Explosive Growth of the Computing Power Market

In the digital era, developments in blockchain and artificial intelligence (AI) have triggered a surge in demand for computing power. This growth is particularly driven by the emergence of the DePIN (Decentralized Physical Infrastructure Network) concept. Across various industries, the need for computing resources is skyrocketing, making computing power a critical driver of the digital economy.

The U.S. Holds a Critical Position in the Global Computing Power Market

In recent years, the demand for computing power in the United States has seen significant growth, particularly in the field of AI. From 2024 to 2025, the top four U.S. cloud providers are expected to increase their procurement of AI chips from 1.3 million Hopper-architecture chips to 3.6 million Blackwell-architecture chips. NVIDIA's founder has predicted that capital expenditures on intelligent computing centers will exceed $1 trillion by 2028. Between 2020 and 2024, global computing power has experienced a compound annual growth rate (CAGR) of 39%, reaching over 1,000 EFlops by the end of 2024. The growth in intelligent computing is even more rapid. Research institutions, universities, and enterprises in the U.S. are continuously driving up demand for intelligent computing power, fueled by use cases such as scientific simulation and AI-based research and education.

Booming Market Drives Expansion of Mining Machines and Computing Power Services

In 2024, the global mining machine market is projected to reach $50 billion, while the computing power services market will grow to $30 billion. Over the next 3–5 years, both are expected to maintain an annual growth rate of over 35%. With its advanced technology and mature market ecosystem, the U.S. has attracted numerous mining machine manufacturers and investors, including major players like Bitmain. Large data centers are also upgrading their computing power service capabilities.

Diverse Competitive Landscape in the U.S. Computing Power Market

Leading companies dominate with strong technology, resources, and brand advantages. In the mining hardware sector, domestic companies leverage innovation and differentiation to compete, while in computing services, cloud giants such as AWS and Azure continue to lead. However, new players are emerging rapidly. Niche computing power service providers, focusing on specific industries or scenarios, are building competitive advantages through tailored solutions. For example, startups offering customized computing services to the finance and healthcare sectors have already gained a notable market share.