April 19, 2024
Bitcoin ATM Numbers Drop Globally
Bitcoin News

Global Bitcoin ATM Count Declines by 11.1% in 2023

The count of Bitcoin ATMs globally has dipped by about 11.1% from the outset of 2023, breaking a ten-year trend of yearly increases. As per Coin ATM Radar, the global tally of crypto ATMs on January 1, 2024, stood at 33,628, a decline from the 37,827 noted on January 1, 2023. Throughout 2023, the overall count of Bitcoin ATMs fluctuated but ultimately decreased by the year’s conclusion. Since Coin ATM Radar started monitoring crypto ATMs in October 2013, their numbers steadily rose each month, peaking at 39,376 in August 2022.

However, this upward trajectory faltered, notably through 2023. The most significant decline in crypto ATMs during that period occurred in the United States, where the count dropped by 15.4% from 32,672 to 27,631. Nevertheless, the U.S. remains the location for 82% of all crypto ATMs worldwide. Conversely, Australia, Canada, Spain, and Poland consistently increased their counts.

Data from Coin ATM Radar indicates that BitAccess, a crypto ATM manufacturer, may have contributed to this decline, with its installations decreasing by 26% from 9,160 in August 2022 to 6,774 by January 1, 2024. However, other major manufacturers like General Bytes and Genesis Coin continued to expand their Bitcoin ATM numbers throughout the year. Notably, Bitcoin Depot, a significant player in the crypto ATM sphere, went public on the Nasdaq on July 3 and recently extended its operations to cover 28 U.S. states. In Q3 2023, it reported revenue of $179.5 million, marking a 3% year-on-year increase.

Coin ATM Radar’s data indicates 498 crypto ATM operators across 71 countries. Bitcoin (BTC) remains the dominant cryptocurrency supported by crypto ATMs, although others like Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC) are also available for purchase through these ATMs.

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