Installed Bitcoin ATMs undergo an 11% reduction as the new year dawns

The count of installed Bitcoin ATMs has experienced an approximately 11.1% decrease compared to the outset of 2023, marking a departure from the ten-year trend of annual increases. According to data from Coin ATM Radar, the global tally of crypto ATMs as of January 1, 2024, stands at 33,628, a decline from the 37,827 recorded on January 1, 2023. While the total number of Bitcoin ATMs fluctuated throughout 2023, it ultimately registered a decline by the year’s conclusion.

Installed Bitcoin ATMs undergo an 11% reduction as the new year dawns

The trajectory of crypto ATM numbers, which had consistently risen since tracking began in October 2013, reached a pinnacle of 39,376 in August 2022. However, this trend saw a reversal in 2023, with the most significant drop occurring in the United States, witnessing a 15.4% reduction from 32,672 to 27,631. Nevertheless, the U.S. continues to host 82% of all crypto ATMs globally, while Australia, Canada, Spain, and Poland experienced a steady increase in their respective tallies.

Notably, crypto ATM manufacturer BitAccess appears to have contributed to the overall decline, with a 26% decrease in net installations from 9,160 in August 2022 to 6,774 on January 1, 2024. Conversely, Bitcoin Depot, a major player in the crypto ATM space, achieved a milestone by becoming a publicly listed company on the Nasdaq on July 3. The company expanded its presence to the 28th state in the U.S. and reported a revenue of $179.5 million in Q3 2023, reflecting a 3% year-on-year increase.