The number of Bitcoin ATMs installed globally, tracked by CoinATMRadar, has been in stark decline since July 2022 – just 94 machines were added over the last six months compared to a total of 4,169 during the first half of 2022.
The installation rate had plummeted significantly when it was once averaging thousands of new ATMs every month. The number of Bitcoin ATM machines has decreased as a result of recent declines in the cryptocurrency market.
The Crypto Winter of 2022 had a significant impact on the cryptocurrency industry, resulting in a decline. Bitcoin’s value fell by 64%, and companies such as crypto exchanges Celsius Network, FTX, and Bitcoin Miners companies struggled to stay afloat.
The downturn was also reflected in the number of cryptocurrency ATMs in the United States. According to CoinATMRadar, ATMs peaked at over 34,000 in August but decreased slightly.
In September, the industry experienced a historic first, with more ATMs being removed from service than being installed, although there was a slight recovery in October.
Bitcoin ATM Network’s Current Statistics
Currently, there are 36445 crypto ATMs in operation, 94% of which are situated in North America. The United States accounts for around 86% of the market share for crypto ATMs, with 33555 ATMs, Canada for 6.6% with 2561, and Europe for 3.9% with 1507.
Furthermore, statistics on the decline in crypto ATM installations for the month of September reveal that 447 machines were taken out of the worldwide network, with the majority of those machines coming from solely the United States.
Despite this loss, there have been more additional installations put in place. In December 2022, the data shows that there was an increase of 114 ATM installations. However, in January of the following year, there was again a decrease of about 93 ATMs.
According to the speed chart from CoinATMRadar, 4.7 new crypto ATMs are installed on average each day. Additionally, Bitaccess dominates the market for the production of cryptocurrency ATMs since it has a 30% share of this industry, based on recent figures from the worldwide crypto-ATM market.
Related Reading | Hong Kong To Regulate Crypto Industry And Issue Tokenized Green Bonds