Welcome to our dedicated page for Bitcoin Depot news (Ticker: BTMWW), a resource for investors and traders seeking the latest updates and insights on Bitcoin Depot stock.
Bitcoin Depot Inc. (BTMWW) operates North America's largest Bitcoin ATM network, enabling cash-to-crypto conversions at thousands of retail locations. This page aggregates official news and press releases about the company's strategic initiatives, market position, and technological innovations in the cryptocurrency sector.
Investors and industry observers will find timely updates on earnings reports, retail partnerships with major convenience stores and gas stations, product launches including BDCheckout integrations, and regulatory developments. The curated collection serves as a reliable resource for tracking Bitcoin Depot's expansion across North America and its role in advancing crypto accessibility.
Content spans operational milestones, ATM network growth statistics, leadership announcements, and partnership expansions with grocery chains, pharmacies, and mall operators. Regular updates ensure stakeholders stay informed about profit-sharing program developments and international market entries.
Bookmark this page for direct access to Bitcoin Depot's verified financial communications and service updates. Check back frequently for new insights into the company's efforts to bridge traditional finance with digital asset ecosystems through secure, user-friendly solutions.
Bitcoin Depot (NASDAQ: BTM), a leading U.S.-based Bitcoin ATM operator, has surpassed its goal of deploying 8,000 Bitcoin ATMs five months ahead of schedule, with a total of 8,180 kiosks installed. This achievement underscores the company's market dominance and accelerated growth. Key highlights of Bitcoin Depot's expansion in 2024 include:
- Expanding into Australia and Puerto Rico with nearly 225 new ATMs
- Partnering with major convenience store brands
- Increasing its BTM fleet by over 900 kiosks
- Advancing its profit-sharing program
- Adopting a Bitcoin treasury strategy
The company's success has been recognized through various accolades, including Forbes 30 Under 30 and Deloitte's 2023 Technology Fast 500.
Bitcoin Depot (NASDAQ: BTM), a leading U.S.-based Bitcoin ATM operator, has announced the sale of 200 additional BTM kiosks to Sopris Capital through its profit-sharing program. This follows Sopris' initial purchase of 50 kiosks in March, bringing their total to 250 kiosks. The program, launched in 2023, aims to expand Bitcoin Depot's North American presence by offering deployment opportunities to qualified partners.
The profit-sharing program provides partners with a comprehensive package including kiosk use, operating software, shipping, installation, ongoing support, and a passive income stream through monthly profit splits. Sopris Capital's increased investment highlights the attractiveness of Bitcoin Depot's strategy and growth potential. Bitcoin Depot's CEO, Brandon Mintz, expressed enthusiasm about deepening the partnership with Sopris Capital.
Bitcoin Depot (NASDAQ: BTM), a leading U.S.-based Bitcoin ATM operator, has announced plans to allocate a portion of its cash reserves to Bitcoin (BTC). This strategic move follows the Accounting Standards Update (ASU) 2023-08, allowing companies to record gains on cryptocurrencies. CEO Brandon Mintz emphasized the company's belief in Bitcoin as a significant financial asset and highlighted the benefits for shareholders from potential BTC appreciation.
The plan aligns Bitcoin Depot with institutions viewing cryptocurrency as a hedge against inflation and a strategic growth asset. The company currently holds the largest market share in North America with over 7,400 Bitcoin ATM locations. Recent milestones include partnerships with major grocery chains, a new profit share program, and expansions into Puerto Rico and Australia.
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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