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Despite the myriad state and federal regulatory hurdles facing the crypto business in the region, the United States plays a major role in maintaining Bitcoin (BTC) and the crypto ecosystem. As China emerges following a permanent ban on cryptocurrencies, the United States remains a leader in hashrate contributions and ATM installations around the world.
Prior to cracking down on BTC mining, China historically accounted for more than 50% of the total hash rate until February 2021. When China was out of competition, the United States regained its slack and became the largest contributor to BTC hashrates. Total mining capacity until January 2022.
As shown above, Chinese miners resumed operations in September 2021. However, US miners continued to dominate the field, increasing hashrate contributions month-on-month.
In addition, the United States has the largest number of ATMs installed, accounting for nearly 88% of the total number of crypto ATMs installed worldwide. Over 90% of all crypto ATMs installed in the last few months are in the United States. data Coin ATM radar has confirmed that this trend will continue until July, as 641 of the 710 Bitcoin and crypto ATMs installed in the United States during the first 10 days of the month were installed.
Canada, which further strengthens North America’s position in the crypto ecosystem, is the second largest network of crypto ATMs after the United States. Outside the Americas, Spain has the highest number of encrypted ATMs, at 210 or 0.5% of all active ATMs.
Related: Global GPU prices fall to compensate for lower Bitcoin mining revenue
Due to the global chip shortage and the confluence of the coronavirus pandemic, the price of the graphics processing unit (GPU), the most important part of mining rigs, has risen momentarily. However, as prices fell below MSRP and hash rates were set to complement the decline, miners saw a window of opportunity to procure their dream mining equipment.
In May alone, GPU prices fell by an average of more than 15%, and secondary market sellers were forced to lower the exorbitant price of used mining rigs.
