According to a recent assessment of US states' crypto-friendliness, New Hampshire takes the top spot, despite high electricity costs and limited bitcoin mining activity. The state's lack of capital gains tax, minimal regulatory restrictions, and extensive network of crypto-accepting businesses and ATMs contribute to its high ranking. The study, conducted by ASICKey, a digital mining hardware manufacturer, evaluated all 50 states across seven key criteria, including capital gains tax, regulatory environment, business adoption of crypto, job availability, ATM density, electricity costs, and mining presence.
Tax policy and business usage were given the most significant weight in the evaluation. New Hampshire achieved the highest score of 71.22 out of 100, boasting 4.4 crypto businesses and 9.3 ATMs per 100,000 people. Wyoming followed closely with a score of 61.89, driven by its high concentration of blockchain jobs, low energy costs, and minimal regulatory oversight.
The top five spots are rounded out by Nevada, Texas, and Alaska, each with unique strengths such as Nevada's high number of crypto-accepting businesses, Texas's substantial mining operations, and Alaska's thriving blockchain job market. Additionally, these states benefit from 0% capital gains taxes. The study highlights the significant impact of tax structures and state policies on the development of the crypto landscape. States with favorable tax codes and clear regulatory frameworks tend to attract more infrastructure and create jobs, while high taxes or unclear regulations may hinder adoption.