NEW YORK – The cryptocurrency ATM landscape has changed significantly, with the latest figures showing an overall number of 33,628 machines, a drop of more than 11% from the previous year. The United States, which holds the lion’s share of these ATMs, saw a significant reduction in the number of bitcoin ATMs from 32,672 to 27,631. Despite this sharp decline, the United States still accounts for 82%. of the world total.
This decline comes after a spike in the cryptocurrency ATM market, which saw its highest number with approximately 39,376 machines worldwide as of August 2022. The decline appears to be selective, impacting some manufacturers more than others . Notably, BitAccess, a leading ATM manufacturer, saw a significant drop in installations of around twenty-six percent. In contrast, competitors Genesis Coin and General Bytes reported an increase in installs, according to statistics tracked by Coin ATM Radar.
The reduction in crypto ATM installations contrasts with the expansion of companies like Bitcoin Depot, which went public on the NASDAQ on July 3, 2023. Following its IPO, Bitcoin Depot reported a 3% year-over-year increase in revenue during the third quarter to $179.5 million.
These ATMs are designed to facilitate transactions for various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), serving as physical portals to the world of digital currencies.
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