Despite all the regulatory hurdles that crypto businesses face in the region, the United States is a key player in the preservation of the Bitcoin (BTC), and the crypto ecosystem. China has been removed from the crypto scene following a permaban. The United States is still the leader in terms of ATM installations and hash rate contribution.
China was the largest contributor to BTC mining up until February 2021, prior to US crackdowns. China being out of the game, the US took up the challenge to become the largest contributor to BTC hash rates — representing 37.84% total mining power as of Jan 2022.
By country, distribution of Bitcoin mining hash rates from September 2019 to Jan 2022 Source: Statista
The above graph shows that the Chinese miners resumed operations in September 2021. The US miners remained dominant in this space, increasing their monthly hash rate contributions month-over-month.
Distribution of crypto ATMs by continents or countries. Source: CoinATMRadar
The US also has the largest number of ATM installations. It accounts for nearly 88% worldwide. The United States has more than 90% of all crypto ATMs that have been installed in the last few months. Coin ATM Radar data confirms that July is a continuation of this trend. The US saw the installation 641 of 710 Bitcoin ATMs in the first 10 Days of July.
Canada is the second-largest country with crypto ATMs, a move that further strengthens North America’s position within the crypto ecosystem. Spain has the largest number of active crypto ATMs outside of the Americas with 210, or 0.5%.
Related: Falling Bitcoin mining revenue causes global GPU prices to drop
A global shortage of chips and the coronavirus pandemic temporarily pushed up the prices for the most critical part of a mining machine — the graphics processing units (GPU). Miners had a window of opportunity to purchase their dream equipment, thanks to a drop in prices below MSRPs, and a hashrate that compliments this fall.
Trend in GPU prices over the past year Source: TechSpot
GPU prices fell by over 15% in May alone. This forced secondary market sellers to reduce their exorbitant prices for used mining rigs.
Eileen Wilson –Technology and Energy
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