The global number of Bitcoin and other cryptocurrency ATMs fell for the first time in 2023, with the United States falling by 15%. According to Coin ATM Radar, cryptocurrency ATMs fell by 11.1% last year, from 37,827 the year before to 33,628. It calculated that the number of Bitcoin ATMs reached a record high of 39,376 in August 2022, but began to decline last year.
(Source: Coin ATM Radar)
BitAccess, one of the world’s leading Bitcoin ATM installers, saw its net installations drop from 9,160 in August 2022 to 6,774 as of January 1.
The United States leads with a drop of 15%
Last year, the number of cryptocurrency ATMs in the United States fell by 15.4% to 27,631. The country accounts for 82% of the machines installed worldwide.
Bitcoin of America has announced that it will cease operations in Connecticut due to the company’s lack of proper licenses, according to the state’s banking department.
Australia, Canada, Spain, and Poland all saw a gradual increase in the number of cryptocurrency ATMs. This growth coincided with an increase in the number of net installations of General Bytes and Genesis Coin.
Crypto ATM operator Bitcoin Depot went public on the Nasdaq in July. In its third-quarter 2023 earnings report, the company reported a 3% year-over-year revenue increase to $179.5 million.
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