A new study ranks crypto-friendly states across the United States, positioning New Hampshire at the top. This surprising placement is notable given the state’s high electricity costs and limited Bitcoin 
$76,047 mining activities. Factors contributing to New Hampshire’s top ranking include the absence of capital gains taxes, non-restrictive crypto regulations, and a high density of businesses and ATMs accepting cryptocurrencies.
Crypto-Friendly States in the U.S.
The study was conducted by ASICKey, a producer of cryptocurrency mining hardware, which evaluated all 50 U.S. states based on seven weighted factors. These included capital gains tax rates, regulatory environments, crypto usage in businesses, job opportunities, ATM density, electricity costs, and the presence of mining activities. Tax policy and business usage had the most significant weight in the rankings.
New Hampshire scored 71.22 out of 100, with 4.4 crypto businesses and 9.3 ATMs per 100,000 people. Wyoming followed with 61.89 points, boasting the highest blockchain job density in the country (118.4 job opportunities per 100,000 people), low energy costs, and minimal regulatory restrictions.
Other states rounding out the top five include Nevada, Texas, and Alaska, each with unique advantages. Nevada has a broad network of businesses accepting cryptocurrencies, Texas is noted for its significant mining operations, and Alaska excels in a strong blockchain job market. Notably, none of these states impose a capital gains tax.
The study highlights the critical role of state tax structures and regulatory policies in the development of the crypto sector. States with favorable tax codes and transparent regulatory paths experience rapid increases in crypto infrastructure and job opportunities, while higher taxes or uncertain regulations can slow adoption rates.
Impact on Investment and Employment
The study also examined the impact of cryptocurrencies on job markets and infrastructure in various states. Wyoming stands out for its blockchain sector job density, Texas as a major center for mining, and Alaska for its expanding blockchain job opportunities.
ATM and Bitcoin-accepting business density portray the prevalence of crypto usage in these regions. Particularly in New Hampshire and Nevada, this density is significantly above the national average.
The study included insights from institutions and industry representatives. John Smith, ASICKey’s research director, commented on the findings:
“Crypto-friendly policies enable states to advance swiftly in this area. This creates significant opportunities for both investment and employment.”
The study reveals that the most advantageous states for cryptocurrencies in the U.S. typically feature no capital gains tax and adopt open, supportive regulations for the crypto sector. States like New Hampshire, Wyoming, Nevada, Texas, and Alaska attract attention with job opportunities, infrastructure, and clear regulations, potentially fostering the widespread use and growth of cryptocurrencies. Investors and industry professionals are encouraged to consider legislative and infrastructural benefits of these states.
