The global count of cryptocurrency ATMs, including Bitcoin, experienced its first decline in a decade, with a prominent 15% decrease in the US leading to an overall drop. Coin ATM Radar reports an 11.1% reduction in the total number of crypto ATMs, declining from 37,827 in the previous year to 33,628.
This decline follows a peak of 39,376 Bitcoin ATMs in August 2022, indicating a downward trend. Major Bitcoin ATM installer BitAccess saw a decrease in net installations from 9,160 in August 2022 to 6,774 by January 1.
The US, home to 82% of global crypto ATMs, faced a significant 15.4% reduction, reaching 27,631 by the year’s end. Bitcoin of America ceased operations in Connecticut due to a lack of proper licensing, contributing to the decline.
Conversely, Australia, Canada, Spain, and Poland observed a gradual increase in the number of crypto ATMs. General Bytes and Genesis Coin played a role in this rise through enhanced net installations.
A noteworthy development was the public listing of crypto ATM operator Bitcoin Depot on NASDAQ in July. The company’s Q3 2023 earnings report indicated a 3% year-over-year revenue increase to $179.5 million.
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