Bitcoin ATMs Installed Globally Drop For The First Time In 10 Years

Updated: 02 January 2024

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The number of Bitcoin and other cryptocurrency ATMs globally dropped for the first time in ten years in 2023, led by a 15% fall in the US.

Crypto ATMs fell 11.1% to 33,628 last year, from 37,827 12 months earlier, says Coin ATM Radar

It computes that the number of Bitcoin ATMs hit a record high of 39,376 ATMs in August 2022, but began to tumble last year .

BitAccess, one of the world’s leading Bitcoin ATM installers, saw net installation tank to 6,774 by Jan. 1 from from 9,160 in August 2022.

US Leads With A 15% Drop

Crypto ATMs plunged 15.4% in the US during the year, to 27,631. The nation accounts for 82% of such machines installed globally.

Bitcoin of America announced the shutting down of operations in Connecticut after the State Department of Banking said the firm lacked the proper licensing.

Australia, Canada, Spain, and Poland all recorded a gradual increase in the number of such ATMs.

This increase coincides with increased net installations by General Bytes and Genesis Coin.

Crypto ATM operator Bitcoin Depot listed on NASDAQ in July. In its Q3 2023 earnings report, the company reported a 3% year-over-year increase in revenue to $179.5 million.

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