The onset of the new year is marked by an 11% reduction in the presence of Bitcoin ATMs globally. Contrary to a decade-long trend of consistent growth, the number of installed Bitcoin ATMs stands at approximately 11.1% fewer than at the commencement of 2023.
As per data from Coin ATM Radar, the worldwide count of crypto ATMs on January 1, 2024, is 33,628, reflecting a decrease from the 37,827 recorded on January 1, 2023. Despite experiencing fluctuations throughout 2023, the cumulative figure for Bitcoin ATMs witnessed a decline by the close of the year.
Since the initiation of tracking by Coin ATM Radar in October 2013, the number of crypto ATMs had consistently risen each month, reaching a peak of 39,376 in August 2022. However, the momentum has faltered, especially throughout 2023.
Bitcoin Dominance In U.S. Crypto ATM Landscape Amidst 15.4% Yearly Decline
The most significant drop in crypto ATMs occurred in the United States, with a 15.4% decrease from 32,672 to 27,631. Nevertheless, the U.S. retains its position as the host to 82% of global crypto ATMs.
In contrast, Australia, Canada, Spain, and Poland witnessed a steady increase in their respective counts. Notably, data from Coin ATM Radar suggests that the decline may be attributed to BitAccess, with a 26% reduction in installations from 9,160 in August 2022 to 6,774 on January 1, 2024.
Major manufacturers General Bytes and Genesis Coin continued to expand their Bitcoin ATM numbers throughout the year. Meanwhile, Bitcoin Depot, a key player in the crypto ATM sector, achieved a Nasdaq listing on July 3 and extended its presence to the 28th U.S. state. It reported a Q3 2023 revenue of $179.5 million, reflecting a 3% year-on-year increase.
Coin ATM Radar’s data reveals a total of 498 crypto ATM operators across 71 countries. Bitcoin (BTC) remains the dominant cryptocurrency supported by these ATMs, with Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC) among the other digital currencies available for purchase at these machines.
