When it comes to crypto ATM installation, the United States continues to lead the world, despite China’s exit owing to a cryptocurrency ban. China controlled over half of the total hash rate until February 2021, when it began a crackdown on BTC mining. Since then, the US overtook the competing nation to lead as the world’s BTC hash rate provider. America holds 37.84% of overall mining power as of January 2022.
The United States has the most ATM installations, accounting for 88% of all cryptocurrency ATMs worldwide. In recent months, over 90% of all crypto ATMs have been deployed in the country.
In China, on the other hand, crypto ATMs have been banned in line with the Chinese government’s crackdown on cryptocurrency trading and mining. The country’s largest bitcoin mining pools, F2Pool and Antpool, have also shut down operations.
North America Continues to Spread Crypto Influence (and Regulations)
Based on Coin ATM Radar’s information, the trend started in July 2022. Over 641 of the 710 BTC ATMs have been installed in North America. Canada also marks the second-largest distribution of cryptocurrency ATMs, confirming North America’s position in the global crypto economy. South America also saw a significant increase in BTC ATM installations, with an increase of 50% in the same period.
Meanwhile, Spain has the most crypto ATMs, with 210 machines, making it the leader in Europe and 0.5% of all working machines. Africa remains the least developed continent when it comes to cryptocurrency adoption. However, the number of machines on the continent has doubled since July.
More Possibilities Await
The price of the most important component in a mining setup, the graphics card, rose temporarily when scarcity of global chips and a coronavirus epidemic coincided. However, with Proof-of-Stake officially closing in soon, Proof-of-Work could become a thing of the past, slowly turning crypto mining via GPU into an obsolete way to earn cryptocurrencies.
Still, those who are dedicated to crypto mining will enjoy the 15% GPU price drop, forcing retail sellers to lower their scalped prices on secondhand mining rigs.
