The new year rings in with an 11% reduction in installed Bitcoin ATMs
The number of installed Bitcoin ATMs is 11.1 percent lower than it was at the beginning of 2023, showing a 10-year trend that has seen a significant increase at the beginning of each year.
According to Coin ATM Radar, as of January 1, 2024, the number of crypto ATMs worldwide is 33,628, down from 37,827 recorded on January 1, 2023. The net total number of Bitcoin ATMs is a mix of growth and decline over 2023. But it finally collapsed at the end of the year.
Since Coin ATM Radar began tracking crypto ATMs in October 2013, the number of crypto ATMs installed has increased every month until it reached a peak of 39,376 in August 2022.
However, the number started to decline, especially in 2010. It's in 2023. The largest decline in crypto ATMs in 2023 came from the United States, which dropped by 15.4% from 32,672 to 27,631. But the country remains home to 82% of all crypto ATMs worldwide.
Meanwhile, Australia, Canada, Spain and Poland have steadily increased their numbers.
Coin ATM Radar data shows that crypto ATM maker BitAccess contributed to that decline, with net installs falling 26% from 9,160 in August 2022 to 6,774 on January 1, 2024.
Two other major manufacturers, General Byte and Genesis Coin, continued to increase the number of Bitcoin ATMs throughout the year.
Related: Net Bitcoin ATM Growth Declines Globally for First Time
Meanwhile, Bitcoin Depot, one of the major players in the crypto ATM space, became a publicly listed company on the Nasdaq on July 3 and recently expanded to the 28th state in the country. Revenue of $179.5 million in Q3 2023, up 3 percent year-over-year.
Coin ATM Radar data shows that there are a total of 498 crypto ATM operators in 71 countries.
Bitcoin (BTC) is the primary cryptocurrency supported by crypto ATMs, while Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC) are among the other cryptocurrencies that can be purchased from ATMs.
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