American manufacturer of cryptocurrency ATMs Bitcoin Depot has released its third-quarter 2024 financial results. According to the report, the company's revenue was $135,3 million, down 25% from the same period in 2023, when this figure exceeded $179,5 million.
The company also holds cryptocurrency reserves worth over $1,31 million.
During the third quarter, we made significant progress in expanding our network. Bitcoin -ATMs, while also working to optimize existing machines to increase their profitability. We ended the quarter with 8300 ATMs, exceeding our goals and reflecting our vision of increasing the availability of bitcoin use, said CEO and Founder Bitcoin Depot Brandon Mintz.
According to the company's official website, Bitcoin Depot operates approximately 16 cryptocurrency ATMs worldwide, with the largest number of devices located in the United States, Canada, and Australia.
In August 2022, the company Bitcoin Depot went public with a valuation of $885 million. The cryptocurrency ATM maker's shares are traded on the NASDAQ stock exchange under the ticker symbol BTM and are valued at $1,99. The market cap is currently Bitcoin Depot is worth approximately $118,2 million.
