Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States plays a major role in preserving the Bitcoin (BTC) and crypto ecosystem. With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash rate contribution and ATM installations worldwide.
Prior to cracking down on BTC mining, China historically represented over 50% of the total hash rate up until Feb 2021. With China out of the competition, the US picked up the slack to become the highest BTC hash rate contributor — representing 37.84% of the total mining power by Jan 2022.
As shown above, Chinese miners resumed operations in September 2021. However, the miners in the US continued to dominate the space while increasing their hash rate contribution month-over-month.