Bitcoin Depot Reports 25% Revenue Drop in Q3 with $135.3 Million Earnings

In a recent financial disclosure, Atlanta-based crypto ATM manufacturer Bitcoin Depot has revealed its third-quarter revenue figures, reporting a total of $135.3 million. This marks a significant 25% decline from the $179.5 million generated during the same period in 2023, according to data from The Block. Additionally, Bitcoin Depot’s financial health is further illustrated by its substantial holdings of over $1.31 million in various cryptocurrencies.

Currently, Bitcoin Depot boasts an extensive network of approximately 16,700 locations across the United States, Canada, and Australia. The company made headlines in August 2022 when it went public with a remarkable valuation of $8.85 billion. As of the latest stock evaluation on November 15, trading under the ticker symbol BTM on Nasdaq, the shares are priced at $1.99, contributing to a market capitalization near $1.182 billion.