The U.S. wireless spectrum auction currently in progress over many states has tripled in value, surpassing $30 billion this week and currently sitting at $35 billion overall.

The mid-band spectrum, occupying bands between 1,700MHz and 2,100MHz is lucrative for wireless carriers who already own a lot of low-band spectrum. It allows wireless carriers to push more data through an already solid foundation of spectrum.

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AT&T and Verizon Wireless appear to be the top bidders, alongside Dish Corp. The FCC is holding the auction and keeps bids private, meaning any company in theory could bid without the public knowing, until the auction is over and the FCC reveals the winner.

Dish Corp already has vast amounts of mid-band spectrum. The recent influx in valuation has sent Dish's stock soaring, as investors see the potential profit from the spectrum. Verizon Wireless and AT&T's stock has went the other way, as the two carriers pour more money into the mid-band spectrum.

Neither Sprint nor T-Mobile has been noted as a heavy bidder in this auction for spectrum, a worrying concept, considering AT&T and Verizon Wireless are already the two dominant carriers in the U.S.

Dish Corp is reportedly interested in creating its own wireless service. The satellite TV provider has seen better days, after two failed mergers with prominent U.S. wireless companies, Dish is looking for new routes to make revenue, diversifying its portfolio.

Google is another company interested in wireless, but the search giant will reportedly borrow spectrum from Verizon Wireless and Sprint, instead of creating its own service. It will use Google Fiber WiFi hotspots to keep speeds high, and use wireless as a backup.

There is no telling how high the price will go for several states. The auction in New York hit $2 billion, the highest ever for spectrum in one state. Several bidders were engaged until $1.8 billion, but afterwards only one stepped forward to go over the $2 billion mark.

Other states have seen similar success; Los Angeles has a $1.6 billion bid; Chicago is currently at $1.1 billion and even areas like Norfolk and Virginia Beach showed promise, surpassing $50 million bids. It is clear carriers are extremely interested in locking up the spectrum.

Low-band spectrum auctions will begin in 2016. These auctions are expected to be much higher in price, with T-Mobile and Sprint ready to spend billions expanding their spectrum to compete with Verizon Wireless and AT&T on stability.

TagsU.S. wireless spectrum, FCC, AT&T, Verizon wireless, Dish Corp, carriers