Press release

Navigant Research Report Finds the Digital Currency Mining Market is Time-Limited and Likely Unsustainable for Utilities and Hardware Suppliers

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A new report from Navigant
analyzes the drivers of the digital currency mining market,
including an analysis of utility systems most heavily affected by its

When digital currencies like Bitcoin and Ethereum experienced a surge in
valuation in 2017 and 2018, the anticipated revenue potential for
digitally mining these currencies gave way to a new industry
incentivized to minimize electricity costs. This new industry had a
marked impact on a handful of utility systems, as large-scale operations
were established in cool regions with low average electricity prices;
however, high electricity demand strained existing infrastructure and
exposed vulnerabilities in these systems. Click
to tweet
: According to a new report from @NavigantRSRCH,
the digital currency market is time-limited and likely unsustainable for
utilities and hardware suppliers.

“The rise and fall of the digital currency mining industry contains
lessons for utilities, which must make resource allocation decisions on
a longtime horizon,” says Johnathon de Villier, research analyst with
Navigant Research. “Hardware suppliers and manufacturers must also
recognize the market for digital currency mining is likely to decline
over the next 10 years due to technological shifts and other factors.”

According to the report, the digital currency mining industry has
unconventional load characteristics, and potential growth scenarios for
digital currency electricity consumption show an uncertain future for
digital currency mining.

The report, Utilities
and Hardware Suppliers Should Plan for a Future Without Digital Currency
, analyzes the drivers of the digital currency market,
including utility systems most heavily affected by its growth. The study
forecasts five scenarios for the growth of the digital currency mining
market from 2019 to 2028 in terms of potential revenue and electricity
consumption. The report examines the key factors that make low or
negative growth scenarios most probable and makes recommendations for
both utilities and hardware suppliers. An Executive Summary of the
report is available for free download on the Navigant
Research website

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
clean, intelligent, mobile, and distributed energy. Additional
information about Navigant Research can be found at

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found

* The information contained in this press release concerning the
Utilities and Hardware Suppliers Should Plan for a Future
Without Digital Currency Mining, is a summary and reflects Navigant
Research’s current expectations based on market data and trend analysis.
Market predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press release
or the report. Please refer to the full report for a complete
understanding of the assumptions underlying the report’s conclusions and
the methodologies used to create the report. Neither Navigant Research
nor Navigant undertakes any obligation to update any of the information
contained in this press release or the report.