AFIAK, and I'm not MIPS expert, but I believe it doesn't have the ability to add a value directly to a memory address. You have to do something like

    // Not real MIPS, just what I've gleaned from a brief look at some docs
    LOAD addr, register
    ADD 1, register
    STORE register, addr

That's a problem if any sort of interrupt happens (if you are multi-threading then a possibility). If it happens at the load, then a separate thread can update "addr" which mean the later STORE will stomp on what's there.

x86 and ARM can do

    ADD 1, addr

    LOAD addr, register
    MOV register, register2
    ADD 1, register2
    COMPARE_AND_SWAP addr, register, register2
    if (cas_failed) { try again }

On MIPS you can simulate atomics with a load-linked/store-conditional (LL/SC) loop. If another processor has changed the same address between the LL and SC instructions, the SC fails to store the result and you have to retry. The underlying idea is that the processors would have to communicate memory accesses to each other via the cache coherence protocol anyway, so they can easily detect conflicting writes between the LL and SC instructions. It gets more complicated with out-of-order execution...

    loop: LL r2, (r1)
          ADD r3, r2, 1
          SC r3, (r1)
          BEQ r3, 0, loop
          NOP