As the craze and the mainstream adoption for the major crypto assets continues to grow exponentially, the latest report from the digital tokens mining industry revealed that the market could grow to $2.8 billion in the next three years.
Technavio forecasted a massive growth primarily because of the potential increase in the mining industry triggered by a surge in mining pools and product launches. The report further added that the US and Canada could benefit from the growing demand for hardware in the mining market.
Even though critics have taken a hit at the environmental impacts and energy usage in mining, the market is coming up with renewable and environment-friendly mining methods. Besides, there is a growing push for clean-energy mining, but these plans are yet to see the light of day.
One such ambitious project is being undertaken by Argo, which is working on its clean-energy mining pool. In addition to that, ARK and Square Investments have said that they are willing to fund BTC in a bid to boost environment-friendly crypto mining. Their announcement came after a study that revealed that a shift to clean energy could lower the prices and encourage mainstream adaptation.
Despite the growing government clampdown on crypto mining, it is not going to slow down anytime soon. Considering the extraordinary performance in the digital market and growing adaptation, the projected growth is likely to happen.