With China exiting the scene following the cryptocurrency ban, the United States maintains the top position in terms of contribution to hash rate and ATM installation worldwide.
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Despite the myriad state and federal regulatory hurdles facing cryptocurrency businesses in the region, the United States plays an important role in preserving the Bitcoin - BTC and cryptocurrency ecosystem.
Before cracking down on BTC mining, China historically accounted for over 50% of the total hash rate as of February 2021. With China out of the running, the United States picked up the baton to become the largest contributor to the hash rate of BTC, contributing 37.84% of the total mining power in January 2022.
Bitcoin mining hash rate distribution from September 2019 to January 2022, by country. Source: Statista As the chart above shows, Chinese miners resumed operations in September 2021. However, US miners continued to dominate the space as they increased their contribution to the hash rate month over month.
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