Welcome to our dedicated page for Bitcoin Depot news (Ticker: BTM), a resource for investors and traders seeking the latest updates and insights on Bitcoin Depot stock.
Bitcoin Depot Inc. (NASDAQ: BTM) maintains North America's largest network of Bitcoin ATMs, providing essential cash-to-crypto conversion solutions through strategic retail partnerships. This news hub offers investors and industry observers centralized access to the company's latest developments, financial disclosures, and market initiatives.
Track official press releases covering quarterly earnings, technology upgrades, regulatory compliance updates, and new retail collaborations. Our curated news collection serves as a reliable resource for understanding BTM's evolving role in bridging traditional finance with digital asset accessibility.
Key focus areas include expansion of the BDCheckout platform, partnership announcements with major convenience store chains and pharmacies, and innovations in user security protocols. All content is verified through primary sources to ensure accuracy in reporting financial metrics and operational milestones.
Bookmark this page for timely updates on Bitcoin Depot's market position, regulatory developments affecting crypto ATM operators, and strategic responses to evolving digital finance trends. For historical context, review archived announcements documenting the company's growth since its NASDAQ listing.
Bitcoin Depot (NASDAQ: BTM) has partnered with Nouria Energy, a prominent convenience store operator in the northeastern U.S., to install 57 Bitcoin ATM kiosks starting Q2 2024. This collaboration targets Massachusetts, Maine, and New Hampshire locations. Bitcoin Depot, a leading fintech firm, aims to enhance crypto accessibility through strategic retail partnerships. The company has seen significant growth in early 2024, securing its first grocery chain partnership, acquiring 2,300 kiosks, and expanding into Australia and Puerto Rico. Bitcoin Depot now boasts the largest fleet of BTMs in North America, with over 8,000 locations.
Bitcoin Depot reported its Q1 2024 financial results, highlighting significant expansion and financial metrics. The company secured over 2,000 new retail locations and committed to acquiring 3,200 additional kiosks, aiming for 8,000 deployed kiosks by the end of 2024. Revenue for Q1 2024 was $138.5 million, a 15% decrease from $163.6 million in Q1 2023. Gross profit dropped 26% to $14.4 million, with a net loss of $4.2 million compared to a net income of $6.1 million in Q1 2023. Adjusted EBITDA fell to $4.9 million from $13.6 million in Q1 2023. Despite these declines, the company reported a 1% revenue increase to $663.9 million over the trailing twelve months, with a 29% rise in gross profit to $83.4 million and a gross profit margin improvement to 12.6%.
Recent business highlights include international expansion into Puerto Rico and Australia and a new partnership with Fareway grocery stores. Bitcoin Depot remains focused on growing its market presence and optimizing profitability. A conference call is scheduled for May 14, 2024, at 10:00 a.m. ET to discuss these results further.
Bitcoin Depot, a U.S.-based Bitcoin ATM operator and fintech company, will host a conference call on May 14th to discuss its first-quarter financial results. The call will be available for replay, providing insights into the company's performance.
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