As of January 1, 2024, the number of installed Bitcoin ATMs worldwide has experienced an unusual decline of approximately 11.1%, deviating from the typical annual trend of growth observed over the past decade. Coin ATM Radar reports that the global count of crypto ATMs has dropped to 33,628, down from 37,827 recorded on January 1, 2023. This marks the first instance of a decrease in Bitcoin ATMs since the tracking began in October 2013, with numbers consistently rising until reaching a peak of 39,376 in August 2022.
Throughout 2023, the net total of Bitcoin ATMs fluctuated but ultimately declined by the end of the year. Notably, the United States experienced the most significant drop in crypto ATMs, witnessing a 15.4% decrease from 32,672 to 27,631. Nevertheless, the U.S. still hosts 82% of all crypto ATMs globally. Conversely, Australia, Canada, Spain, and Poland saw a steady increase in their respective tallies.
The data from Coin ATM Radar suggests that BitAccess, a crypto ATM manufacturer, might have contributed to the overall decrease, with its net installations falling by 26% from 9,160 in August 2022 to 6,774 on January 1, 2024. In contrast, major manufacturers like General Bytes and Genesis Coin continued to expand the number of Bitcoin ATMs during the year.
Bitcoin Depot, a prominent player in the crypto ATM space, achieved a milestone by becoming a publicly listed company on the Nasdaq on July 3. The company expanded its operations to its 28th state in the U.S. and reported a revenue of $179.5 million in Q3 2023, indicating a 3% year-on-year increase.
According to Coin ATM Radar’s data, there are a total of 498 crypto ATM operators spread across 71 countries. Bitcoin remains the dominant cryptocurrency supported by these ATMs, with additional options such as Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC) also available for purchase through these machines.
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