Bitcoin Depot expands ATM network to 8,300 devices, solidifying leadership
The company is expanding its crypto ATM network
Bitcoin Depot, a leading U.S.-based cryptocurrency ATM operator, expanded its network to 8,300 devices in Q3 2024. This marks a significant growth from 7,500 machines earlier in the summer.
According to the company’s financial report, revenue fell by 25% to $135.3 million during the quarter, while its cryptocurrency reserves grew to $1.31 million.
“In the third quarter, we made significant progress in expanding our bitcoin ATM network while optimizing existing devices for greater profitability,” said Bitcoin Depot CEO Brandon Mintz.
What is Bitcoin Depot?
Bitcoin Depot is the world’s leading operator of cryptocurrency ATMs, founded in 2016. The company specializes in providing easy access to buying and selling bitcoin and other cryptocurrencies through its network of ATMs, allowing users to transact with cash or bank transfers.
With over 8,000 ATMs across the U.S. and Canada, Bitcoin Depot has secured its position as the largest operator in its sector. The company’s leadership is driven by innovative technology, strategic partnerships, and a focus on expanding its footprint in high-demand cryptocurrency regions.
Despite fierce competition from rivals such as CoinFlip and Athena Bitcoin, Bitcoin Depot continues to dominate the market.
Meanwhile, bitcoin prices are rising as Goldman Sachs doubles its investments in bitcoin ETFs.
