Bitcoin Depot achieved a Q1 profit of 12.2 million USD, a significant rebound from a 4.2 million USD loss a year ago. Revenue rose to 164.2 million USD, up 19% year-over-year, attributed to increased kiosk deployments and larger transaction sizes.
The company plans to secure a license for operations in New York, targeting the installation of up to 3,000 kiosks. Despite recent stock volatility, Bitcoin Depot remains a player in the crypto ATM space, with a notable transaction volume of 3 billion USD since 2016.
Leave a Reply