Despite the many state and federal regulatory hurdles faced by crypto businesses in the region, the United States has a major role to play in protecting Bitcoin (BTC) and the crypto ecosystem. With China moving out of the image follows permaban in crypto, the United States maintains the highest position in terms of hash rate contributions and ATM installations worldwide.
Prior to eliminating BTC mining, China historically accounted for more than 50% of total hash rates until February 2021. With China out of competition, the U.S. took a slack to become the highest BTC hash rate contributor – representing 37.84% of total mining power in Jan. 2022.
As shown above, Chinese miners will resume operations in September 2021. However, miners in the U.S. continue to dominate the space while increasing their monthly hash level contributions.
In addition, the U.S. is the largest ATM installation site, accounting for almost 88% of total crypto ATM installations worldwide. More than 90% of all crypto ATMs installed in the past few months are in the United States. data of Coin ATM Radar confirmed that the trend continued for July as the US saw the installation of 641 of the 710 Bitcoin and crypto ATMs installed in the first 10 days of the month.
Further strengthening North America’s position in the crypto ecosystem, Canada is the second largest crypto ATM network after the United States. Outside of America, Spain has the most crypto ATMs, 210 or 0.5% of the total active ATMs.
The meeting of the global chip shortage and the coronavirus pandemic rapidly raises the price of the most important part of the mining rig – the graphics processing unit (GPU). However, with prices falling below the MSRP and hash levels praising the fall, miners are finding opportunities to get the mining equipment they want.
In May, the price of GPUs fell by an average of more than 15%, also forcing sellers in the secondary market to cut the very expensive price of used mining rigs.