Blockchain Press Releases
AI Technology Set to Reshape Stock Images & Videos Market, the Market is Projected to Worth $7.33 Billion by 2028 – Arizton
CHICAGO, July 4, 2023 /PRNewswire/ — According to Arizton’s latest research report, the stock images and videos market will grow at a CAGR of 6.74% during 2022-2028.
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Browse In-Depth TOC on Stock Images and Videos Market
122 – Tables
123 – Charts
474 – Pages
The stock image market was in good shape in the mid-1990s. Good-quality photographs, stable stock photography prices, great demand, and limited supply made it a lucrative sector. However, the advent of the internet turned the market upside down. Customers and end-users began looking for ways to get these images at low prices for longer durations. The RF license thus made its way into the market. Synonymous with nearly unlimited usage, images that carried this license must be sold for fixed prices based on the file size. Subscriptions became the norm. Five years down the line, these libraries began shifting to the digital base, and the revenue growth was strong. Like every other high-profit-making industry, it invited solid competition. Many countermeasures were released in response to the competition, including bringing down royalty rates, offering micro-prices, and driving up sub-distribution agreements. This resulted in chaos, with the photography commission being thrown in a bind and aggregators and distributors taking up more revenue share. The rising penetration of animation production, a rapid shift to vertical formats, blockchain technology making inroads, social issues trumping mindless consumerism, increasing penetration of AI & ML in stock content, growth of platform integrations, and mobile stock losing its sheen are the growing trends in the stock images and videos market.
Stock Images and Videos Market Report Scope
|
Report Attributes |
Details |
|
Market Size (2028) |
USD 7.33 Billion |
|
Market Size (2022) |
USD 4.96 Billion |
|
CAGR (2022-2028) |
6.74 % |
|
Base Year |
2022 |
|
Forecast Year |
2023-2028 |
|
Market Segmentation |
Product, Source, License, Application, End-user, and Geography |
|
Geographic Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
|
Market Dynamics |
|
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Recent Developments and Launches Of AI Platforms & Tools
In the stock image market, vendors increasingly introduce AI platforms and tools to enhance their offerings. These AI-powered solutions are designed to revolutionize the way customers search for and utilize stock images. By leveraging machine learning and computer vision algorithms, these platforms can analyze and understand the content of images, enabling more accurate and relevant search results.
In early 2023, Shutterstock launched a new AI image generator – Shutterstock Generate. This tool came out because of the partnership between Dall-E & Shutterstock. It is a text-to-image generator that utilizes the Dall-E model, specifically trained using Shutterstock’s content library. This unique approach ensures legal compliance and transparency throughout the image generation process. When users download the generated images through the app, they are licensed by Shutterstock, providing a reliable and authorized source for usage.
Microstock Market Gaining Huge Popularity, and Macrostock Market to Recover in the Upcoming Years
Microstock has recreated the industry demands and has found even more popularity during the pandemic. The rise of the World Wide Web brought a rush of new highly digital businesses that needed a strong online presence and marketing collateral for their offline efforts. These start-ups have largely been attributed to the success of this relatively new, stably growing online image market. However, the advent of microstock has led macrostock agencies to lose their customers to the former. While these heavy hitters have firmly grounded their revenues, accounting for the largest share of the market, their growth has slowed down comparatively in recent years.
Major agencies are currently swaying towards acquiring more crowd-sourced images to increase their authenticity and revenues. However, some players such as Stocksy, are betting on platform cooperatives, which aim to preserve the strength and integrity of the artist community for sustainable long-term growth. Compared to macrostock agencies, microstock is swift to act on innovation and adapt to new image technologies. From efforts gained at breaking new ground, such as the embed initiatives, to trailblazing partnerships with technology companies, social networks, publishing platforms, events, and the like, macrostock companies are on a roll. All of this, though, is an effort to bring the market back to its good days. For instance, Getty Images partnered with the Rugby Africa Gold Cup board to offer images of its competition to its customers.
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Competition in Stock Images and Videos Market is Intensifying Across the Globe
Getty Images, Visual China Group, Shutterstock, and Adobe Stock are the four major vendors that dominate the market. Several vendors in this market have a global presence, creating strong brand images for their products. In addition, several small and large vendors are altering the stock photography business with new approaches and models, such as making mobile a platform. With many of these vendors trying to cut costs due to the shrinking revenues, offering any service apart from the basic limits their growth. Several larger players have witnessed a decline in revenues over the last couple of years due to consolidation that devalued the market.
- Getty Images is a leading vendor in the market. It works with hundreds of image partners, 200,000 contributors, and over 160,000 sports, news, and entertainment events.
- Visual China Group is another significant player in the market. The company has over 600 employees, serving over 15,000 media outlets, advertisers, and other organizations. It has hundreds of image partners and 14,000 contributors globally.
- Shutterstock is another large player in the market. It has about 1.8 million active paying customers, over 350,000 contributors, more than 9 million video clips, and 170 million images available for license.
- Adobe Stock is a significant player in the market, offering over 90 million assets.
Key Company Profiles
- Adobe Stock
- Getty Images
- Hanhua Yimei Visual Technology
- Shutterstock
- 123RF
- Agence France Presse (AFP)
- AFP
- agefotostock
- Alamy
- AP Images
- Artlist
- Can Stock Photo
- Canva
- Coinaphoto
- Creative Market
- Death to Stock
- Depositphotos
- Dissolve
- Dreamstime
- East News
- Envato
- EyeEm
- Freepik
- Fotosearch
- ImagesBazaar
- Masterfile
- Newscom
- NHK VIDEO BANK
- PantherMedia
- Photofolio
- Picfair
- Pixta
- Pond5
- PR Photos
- Redux Pictures
- Storyblocks
- Stocksy
- StockUnlimited
- The Mega Agency
- THOMSON REUTERS
- WENN
- Westend61
- ZUMA Press
Market Segmentation
Product
- Stock Images
- Stock Videos
Source
- Macrostock
- Microstock
Application
- Commercial
- Editorial
License
- RM
- RF
End-user
- Marketers
- Films & TV Producers
- Media & Publishing Companies
- Business & Individual Creators
Geography
- North America
- The US
- Canada
- Europe
- The UK
- Germany
- France
- Spain
- Russia
- Italy
- Sweden
- Switzerland
- Belgium
- Netherlands
- Poland
- Turkey
- APAC
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Taiwan
- Philippines
- New Zealand
- Malaysia
- Thailand
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Egypt
- Nigeria
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
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Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY PRODUCT
4.3.2 MARKET SEGMENTATION BY LICENSE
4.3.3 MARKET SEGMENTATION BY APPLICATION
4.3.4 MARKET SEGMENTATION BY SOURCE
4.3.5 MARKET SEGMENTATION BY END-USER
4.3.6 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 MARKET DEFINITION
7.2 REPORT OVERVIEW
7.3 RECENT DEVELOPMENTS AND LAUNCHES OF AI PLATFORMS & TOOLS
7.4 RISK FACTORS IN MARKET
7.5 GLOBAL MEDIA LANDSCAPE
7.6 OPPORTUNITIES & CHALLENGE ANALYSIS
7.7 SEGMENT ANALYSIS
7.8 REGIONAL ANALYSIS
7.9 COMPETITIVE LANDSCAPE
7.10 FREQUENTLY ASKED QUESTIONS
8 INTRODUCTION
8.1 OVERVIEW
8.2 INTRODUCTION OF AI STOCK IMAGES MARKET
8.2.1 MARKET DYNAMICS
8.2.2 GROWTH OPPORTUNITIES FOR AI STOCK IMAGES
8.2.3 GEOGRAPHY ANALYSIS
8.2.4 RECENT DEVELOPMENTS AND LAUNCHES OF AI PLATFORMS & TOOLS
8.3 RISK FACTORS
8.4 GOVERNMENT REGULATIONS
8.5 KEY ELEMENTS IN STOCK IMAGES & VIDEOS MARKET
8.5.1 SALES & DISTRIBUTION CHANNEL
8.5.2 CONTENT CONTRIBUTING COMMUNITY
8.5.3 COMPETITION
8.5.4 MARKETING
8.6 GLOBAL DIGITAL VISUAL CONTENT MARKET
8.7 GLOBAL MEDIA LANDSCAPE
8.8 COVID-19 IMPACT ANALYSIS
8.8.1 CHANGING AGENCY MODELS
8.8.2 POST-COVID SCENARIO
8.9 FUTURE OUTLOOK
8.10 VALUE CHAIN
8.10.1 BUSINESS MODEL
9 MARKET OPPORTUNITIES & TRENDS
9.1 RISING PENETRATION OF ANIMATION PRODUCTION
9.2 RAPID SHIFT TO VERTICAL FORMATS
9.3 OTT PLATFORMS BOOSTING DEMAND FOR STOCK FOOTAGE
9.4 BLOCKCHAIN TECHNOLOGY MAKING INROADS
9.5 SOCIAL ISSUES TRUMP MINDLESS CONSUMERISM
9.6 INCREASING PENETRATION OF AI & ML IN STOCK CONTENT
9.7 POWERING UP VIA DISTRIBUTION DEALS
9.8 GROWTH OF PLATFORM INTEGRATIONS
9.9 MOBILE STOCK LOSING ITS SHEEN
9.10 DRONE-SHOT CONTENT IN VISUAL ARTS
10 MARKET GROWTH ENABLERS
10.1 GROWTH IN E-LEARNING INDUSTRY
10.2 REINVENTION OF STORYTELLING
10.3 IMPROVEMENT IN JOURNALISTIC VALUES
10.4 GROWTH OF DIGITAL COMMUNITIES IN HYPER-CONNECTED ECOSYSTEM
10.5 SOCIAL SHOWS SUSTAIN BUZZ IN STOCK CONTENT
10.6 GROWTH OF CONTENT AUTOMATION & PERSONALIZATION
10.7 CONSUMER BEHAVIOR & AUTHENTICITY
11 MARKET RESTRAINTS
11.1 SHIFT IN DIGITAL CULTURE
11.2 COPYRIGHT INFRINGEMENT & BREACH OF LICENSES
11.3 PROLIFERATION OF SHOPPABLE SOCIAL COMMERCE
11.4 GLUT OF IMAGES
11.5 UNSUSTAINABLE BUSINESS MODELS
11.6 USER-GENERATED CONTENT EATING INTO MARKET
11.7 AUDIO ECLIPSING VIDEO
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.1.1 MERGERS & ACQUISITIONS AND RECENT DEVELOPMENTS
12.1.2 KEY INSIGHTS
12.2 PEST ANALYSIS
12.2.1 POLITICAL FACTORS
12.2.2 ECONOMIC FACTORS
12.2.3 SOCIAL FACTORS
12.2.4 TECHNOLOGICAL FACTORS
12.3 MARKET SIZE & FORECAST
12.4 MARKET BY PRODUCT
12.5 MARKET BY SOURCE
12.6 MARKET BY APPLICATION
12.7 MARKET BY LICENSE
12.8 MARKET BY END-USER
12.9 FIVE FORCES ANALYSIS
12.9.1 THREAT OF NEW ENTRANTS
12.9.2 BARGAINING POWER OF SUPPLIERS
12.9.3 BARGAINING POWER OF BUYERS
12.9.4 THREAT OF SUBSTITUTES
12.9.5 COMPETITIVE RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 STOCK IMAGES
13.3.1 MARKET SIZE & FORECAST
13.3.2 MARKET BY GEOGRAPHY
13.4 STOCK VIDEOS
13.4.1 MARKET SIZE & FORECAST
13.4.2 MARKET BY GEOGRAPHY
14 SOURCE
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 MACROSTOCK
14.3.1 MARKET SIZE & FORECAST
14.3.2 IMAGES
14.3.3 VIDEOS
14.3.4 MARKET BY GEOGRAPHY
14.4 MICROSTOCK
14.4.1 MARKET SIZE & FORECAST
14.4.2 IMAGES
14.4.3 VIDEOS
14.4.4 MARKET BY GEOGRAPHY
15 APPLICATION
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 COMMERCIAL
15.3.1 MARKET SIZE & FORECAST
15.3.2 MARKET BY GEOGRAPHY
15.4 EDITORIAL
15.4.1 MARKET SIZE & FORECAST
15.4.2 MARKET BY GEOGRAPHY
16 LICENSE
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 RM
16.3.1 MARKET SIZE & FORECAST
16.3.2 IMAGES
16.3.3 VIDEOS
16.3.4 MARKET BY GEOGRAPHY
16.4 RF
16.4.1 MARKET SIZE & FORECAST
16.4.2 IMAGES
16.4.3 VIDEOS
16.4.4 MARKET BY GEOGRAPHY
17 END-USER
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 MARKET OVERVIEW
17.3 MARKETERS
17.3.1 MARKET SIZE & FORECAST
17.3.2 MARKET BY GEOGRAPHY
17.4 FILMS & TV PRODUCERS
17.4.1 MARKET SIZE & FORECAST
17.4.2 MARKET BY GEOGRAPHY
17.5 MEDIA & PUBLISHING COMPANIES
17.5.1 MARKET SIZE & FORECAST
17.5.2 MARKET BY GEOGRAPHY
17.6 BUSINESSES & INDIVIDUAL CREATORS
17.6.1 MARKET SIZE & FORECAST
17.6.2 MARKET BY GEOGRAPHY
18 GEOGRAPHY
18.1 MARKET SNAPSHOT & GROWTH ENGINE
18.2 GEOGRAPHIC OVERVIEW
19 NORTH AMERICA
19.1 MARKET OVERVIEW
19.1.1 IMAGES
19.1.2 VIDEOS
19.2 MARKET SIZE & FORECAST
19.2.1 PRODUCT: MARKET SIZE & FORECAST
19.2.2 SOURCE: MARKET SIZE & FORECAST
19.2.3 APPLICATION: MARKET SIZE & FORECAST
19.2.4 LICENSE: MARKET SIZE & FORECAST
19.2.5 END-USER: MARKET SIZE & FORECAST
19.3 KEY COUNTRIES
19.4 US
19.4.1 MARKET SIZE & FORECAST
19.4.2 IMAGES
19.4.3 VIDEOS
19.5 CANADA
19.5.1 MARKET SIZE & FORECAST
19.5.2 IMAGES
19.5.3 VIDEOS
20 EUROPE
20.1 MARKET OVERVIEW
20.1.1 IMAGES
20.1.2 VIDEOS
20.2 MARKET SIZE & FORECAST
20.2.1 PRODUCT: MARKET SIZE & FORECAST
20.2.2 SOURCE: MARKET SIZE & FORECAST
20.2.3 APPLICATION: MARKET SIZE & FORECAST
20.2.4 LICENSE: MARKET SIZE & FORECAST
20.2.5 END-USER: MARKET SIZE & FORECAST
20.3 KEY COUNTRIES
20.4 UK
20.4.1 MARKET SIZE & FORECAST
20.4.2 IMAGES
20.4.3 VIDEOS
20.5 GERMANY
20.5.1 MARKET SIZE & FORECAST
20.5.2 IMAGES
20.5.3 VIDEOS
20.6 FRANCE
20.6.1 MARKET SIZE & FORECAST
20.6.2 IMAGES
20.6.3 VIDEOS
20.7 SPAIN
20.7.1 MARKET SIZE & FORECAST
20.7.2 IMAGES
20.7.3 VIDEOS
20.8 RUSSIA
20.8.1 MARKET SIZE & FORECAST
20.8.2 IMAGES
20.8.3 VIDEOS
20.9 ITALY
20.9.1 MARKET SIZE & FORECAST
20.9.2 IMAGES
20.9.3 VIDEOS
20.10 SWEDEN
20.10.1 MARKET SIZE & FORECAST
20.10.2 IMAGES
20.10.3 VIDEOS
20.11 SWITZERLAND
20.11.1 MARKET SIZE & FORECAST
20.11.2 IMAGES
20.11.3 VIDEOS
20.12 BELGIUM
20.12.1 MARKET SIZE & FORECAST
20.12.2 IMAGES
20.12.3 VIDEOS
20.13 NETHERLANDS
20.13.1 MARKET SIZE & FORECAST
20.13.2 IMAGES
20.13.3 VIDEOS
20.14 POLAND
20.14.1 MARKET SIZE & FORECAST
20.14.2 IMAGES
20.14.3 VIDEOS
20.15 TURKEY
20.15.1 MARKET SIZE & FORECAST
20.15.2 IMAGES
20.15.3 VIDEOS
21 APAC
21.1 MARKET OVERVIEW
21.1.1 IMAGES
21.1.2 VIDEOS
21.2 MARKET SIZE & FORECAST
21.2.1 PRODUCT: MARKET SIZE & FORECAST
21.2.2 SOURCE: MARKET SIZE & FORECAST
21.2.3 APPLICATION: MARKET SIZE & FORECAST
21.2.4 LICENSE: MARKET SIZE & FORECAST
21.2.5 END-USER: MARKET SIZE & FORECAST
21.3 KEY COUNTRIES
21.4 CHINA
21.4.1 MARKET SIZE & FORECAST
21.4.2 IMAGES
21.4.3 VIDEOS
21.5 INDIA
21.5.1 MARKET SIZE & FORECAST
21.5.2 IMAGES
21.5.3 VIDEOS
21.6 JAPAN
21.6.1 MARKET SIZE & FORECAST
21.6.2 IMAGES
21.6.3 VIDEOS
21.7 AUSTRALIA
21.7.1 MARKET SIZE & FORECAST
21.7.2 IMAGES
21.7.3 VIDEOS
21.8 SOUTH KOREA
21.8.1 MARKET SIZE & FORECAST
21.8.2 IMAGES
21.8.3 VIDEOS
21.9 INDONESIA
21.9.1 MARKET SIZE & FORECAST
21.9.2 IMAGES
21.9.3 VIDEOS
21.10 TAIWAN
21.10.1 MARKET SIZE & FORECAST
21.10.2 IMAGES
21.10.3 VIDEOS
21.11 PHILIPPINES
21.11.1 MARKET SIZE & FORECAST
21.11.2 IMAGES
21.11.3 VIDEOS
21.12 NEW ZEALAND
21.12.1 MARKET SIZE & FORECAST
21.12.2 IMAGES
21.12.3 VIDEOS
21.13 MALAYSIA
21.13.1 MARKET SIZE & FORECAST
21.13.2 IMAGES
21.13.3 VIDEOS
21.14 THAILAND
21.14.1 MARKET SIZE & FORECAST
21.14.2 IMAGES
21.14.3 VIDEOS
22 MIDDLE EAST & AFRICA
22.1 MARKET OVERVIEW
22.1.1 IMAGES
22.1.2 VIDEOS
22.2 MARKET SIZE & FORECAST
22.2.1 PRODUCT: MARKET SIZE & FORECAST
22.2.2 SOURCE: MARKET SIZE & FORECAST
22.2.3 APPLICATION: MARKET SIZE & FORECAST
22.2.4 LICENSE: MARKET SIZE & FORECAST
22.2.5 END-USER: MARKET SIZE & FORECAST
22.3 KEY COUNTRIES
22.4 UAE
22.4.1 MARKET SIZE & FORECAST
22.4.2 IMAGES
22.4.3 VIDEOS
22.5 SOUTH AFRICA
22.5.1 MARKET SIZE & FORECAST
22.5.2 IMAGES
22.5.3 VIDEOS
22.6 SAUDI ARABIA
22.6.1 MARKET SIZE & FORECAST
22.6.2 IMAGES
22.6.3 VIDEOS
22.7 EGYPT
22.7.1 MARKET SIZE & FORECAST
22.7.2 IMAGES
22.7.3 VIDEOS
22.8 NIGERIA
22.8.1 MARKET SIZE & FORECAST
22.8.2 IMAGES
22.8.3 VIDEOS
23 LATIN AMERICA
23.1 MARKET OVERVIEW
23.1.1 IMAGES
23.1.2 VIDEOS
23.2 MARKET SIZE & FORECAST
23.2.1 PRODUCT: MARKET SIZE & FORECAST
23.2.2 SOURCE: MARKET SIZE & FORECAST
23.2.3 APPLICATION: MARKET SIZE & FORECAST
23.2.4 LICENSE: MARKET SIZE & FORECAST
23.2.5 END-USER: MARKET SIZE & FORECAST
23.3 KEY COUNTRIES
23.4 BRAZIL
23.4.1 MARKET SIZE & FORECAST
23.4.2 IMAGES
23.4.3 VIDEOS
23.5 MEXICO
23.5.1 MARKET SIZE & FORECAST
23.5.2 IMAGES
23.5.3 VIDEOS
23.6 ARGENTINA
23.6.1 MARKET SIZE & FORECAST
23.6.2 IMAGES
23.6.3 VIDEOS
23.7 COLOMBIA
23.7.1 MARKET SIZE & FORECAST
23.7.2 IMAGES
23.7.3 VIDEOS
23.8 CHILE
23.8.1 MARKET SIZE & FORECAST
23.8.2 IMAGES
23.8.3 VIDEOS
23.9 PERU
23.9.1 MARKET SIZE & FORECAST
23.9.2 IMAGES
23.9.3 VIDEOS
24 COMPETITIVE LANDSCAPE
24.1 COMPETITION OVERVIEW
24.2 MARKET RANKING & SHARES
25 KEY COMPANY PROFILES
25.1 ADOBE STOCK
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.1.3 KEY STRATEGIES
25.1.4 KEY STRENGTHS
25.1.5 KEY OPPORTUNITIES
25.2 GETTY IMAGES
25.3 HANHUA YIMEI VISUAL TECHNOLOGY
25.4 SHUTTERSTOCK
26 OTHER PROMINENT VENDORS
26.1 123RF
26.1.1 BUSINESS OVERVIEW
26.1.2 PRODUCT OFFERINGS
26.1.3 KEY STRENGTHS
26.1.4 KEY STRATEGIES
26.2 AGENCE FRANCE PRESSE (AFP)
26.3 AFP
26.4 AGEFOTOSTOCK
26.5 ALAMY
26.6 AP IMAGES
26.7 ARTLIST
26.8 CAN STOCK PHOTO
26.9 CANVA
26.10 COINAPHOTO
26.11 CREATIVE MARKET
26.12 DEATH TO STOCK
26.13 DEPOSITPHOTOS
26.14 DISSOLVE
26.15 DREAMSTIME
26.16 EAST NEWS
26.17 ENVANTO
26.18 EYEEM
26.19 FREEPIK
26.20 FOTOSEARCH
26.21 IMAGESBAZAAR
26.22 MASTERFILE
26.23 NEWSCOM
26.24 NHK VIDEO BANK
26.25 PANTHERMEDIA
26.26 PHOTOFOLIO
26.27 PICFAIR
26.28 PIXTA
26.29 POND5
26.30 PR PHOTOS
26.31 REDUX PICTURES
26.32 STORYBLOCKS
26.33 STOCKSY
26.34 STOCKUNLIMITED
26.35 THE MEGA AGENCY
26.36 THOMSON REUTERS
26.37 WENN
26.38 WESTEND61
26.39 ZUMA PRESS
27 REPORT SUMMARY
27.1 KEY TAKEAWAYS
27.2 STRATEGIC RECOMMENDATIONS
28 QUANTITATIVE SUMMARY
29 APPENDIX
29.1 ABBREVIATIONS
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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