As of January 1, 2024, the global count of Bitcoin ATMs stands at 33,628, marking an 11.1% decrease from the previous year, defying a decade-long trend of annual growth in these cryptocurrency dispensing machines.
Coin ATM Radar, a reputable source for tracking such data, reported that on January 1, 2023, there were 37,827 Bitcoin ATMs worldwide.
While 2023 saw fluctuations in these numbers, the overall trend was downward, resulting in the reduced count by year-end.
Since October 2013, Coin ATM Radar has continuously monitored the installation of crypto ATMs.
The numbers consistently rose each month, peaking at an all-time high of 39,376 in August 2022.
However, this growth started to wane thereafter, especially throughout the year 2023.
The most significant decline in crypto ATMs was observed in the United States, where the count fell by 15.4% from 32,672 to 27,631, although it still accounts for 82% of all crypto ATMs globally.
Conversely, countries like Australia, Canada, Spain, and Poland steadily increased their crypto ATM counts.
A contributing factor to the overall decline was the crypto ATM manufacturer BitAccess, which experienced a 26% reduction in installations, dropping from 9,160 in August 2022 to 6,774 on January 1, 2024.
In contrast, manufacturers like General Bytes and Genesis Coin continued to add Bitcoin ATMs throughout the year.
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Bitcoin Depot, a prominent player in the crypto ATM industry, made significant strides in 2023.
The company went public on the Nasdaq on July 3 and expanded its operations to its 28th U.S. state.
In addition, it reported a Q3 2023 revenue of $179.5 million, indicating a 3% year-on-year increase in earnings.
According to Coin ATM Radar, there are 498 crypto ATM operators spanning 71 countries.
Bitcoin remains the dominant cryptocurrency supported by these ATMs, although they also facilitate the purchase of other cryptocurrencies such as Bitcoin Cash, Ether, and Litecoin.
In summary, the global count of Bitcoin ATMs experienced an unusual decline in 2023, contrasting with the preceding decade of growth.
The United States, despite losing a substantial number of crypto ATMs, still maintains its position as the leader in this sector.
While some manufacturers faced setbacks, others continued to expand their presence, and notable players like Bitcoin Depot demonstrated growth and financial success in the industry.
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