The U.S. Bitcoin Market: A Beacon of Opportunity Amidst Regulatory Challenges

The Rise of the U.S. in the Crypto Landscape

Despite the numerous regulatory challenges facing cryptocurrency businesses, the United States has emerged as a powerhouse in the Bitcoin and crypto ecosystem. With China nearly withdrawing from the game after instituting a complete ban on crypto, the U.S. has solidified its lead in terms of hash rate contribution and the proliferation of crypto ATMs.

China’s Exit and America’s Ascension

Before cracking down on BTC mining, China accounted for over 50% of the global Bitcoin hash rate until February 2021. Following its exit from the scene, the United States didn’t just fill the void; it flourished! By January 2022, the U.S. represented a whopping 37.84% of the total mining power.

Despite the occasional flares of Chinese miners resuming operations as of September 2021, the dominance of U.S. miners grew steadily, showcasing resilience and a typical entrepreneurial spirit reminiscent of the American Dream—just with more GPUs and fewer cowboy hats.

Crypto ATMs: The U.S. Leads the Charge

When it comes to cashing in on crypto, the U.S. is the star of the show. Hosting nearly 88% of the world’s total crypto ATMs, it lays claim to a hefty portion of the market. To illustrate, out of the 710 Bitcoin and crypto ATMs installed globally within the first 10 days of July, the U.S. alone accounted for 641 installations. That’s some serious ATM-fueled enthusiasm!

The North American Advantage

Canada follows closely as the second-largest network of crypto ATMs, proving that North America is a formidable player in the global crypto scene. While Spain ranks next with just 210 crypto ATMs, it becomes evident that the U.S. and Canada are the titans of cryptocurrency trading and accessibility.

Where Are All The Crypto ATMs?

• United States: 88% of all crypto ATMs globally
• Canada: The runner-up for the highest number of ATMs
• Spain: A distant third with 0.5% of active ATMs

A Silver Lining in Tough Times

Now let’s flip the page to the tech side of things. The global chip shortage and the pandemic induced a spike in GPU prices, threatening the mining operations. But fear not! Miners have found a precious window of opportunity as prices for GPUs have been falling below their MSRP, creating a buying bonanza for those hunting for those elusive mining rigs.

GPU Prices: From Sky High to Lower than Your Ex’s Expectations

Take May, for instance, when GPU prices plummeted an average of 15%—an outcome that forced sellers in the secondary market to lower their previously outrageous prices on used equipment.

GPU Price Trend Snapshot:

One year of GPU price trends showing a downward trajectory signifies a resurgence in the mining enthusiasm.