Bitcoin ATM numbers have decreased by about 11.1% compared to the early days of 2023, marking the first decline after a decade of consistent growth at the start of each year. According to Coin ATM Radar, the number of ATMs dropped from 37,827 on January 1, 2023, to 33,628 worldwide as of January 1, 2024. Throughout 2023, the net total number of Bitcoin ATMs experienced both growth and decline, but ultimately decreased by year’s end.
A First in Ten Years
Since Coin ATM Radar began tracking crypto ATMs in October 2013, the number of installed crypto ATMs had been increasing steadily each month, reaching an all-time high of 39,376 in August 2022.
However, the numbers have been declining since then, particularly throughout 2023. The United States experienced the largest decrease in crypto ATM numbers, dropping by 15.4% from 32,672 to 27,631. Nonetheless, the country continues to host 82% of all crypto ATMs worldwide. During this period, Australia, Canada, Spain, and Poland steadily increased their ATM numbers.
Notable Details About Crypto ATMs
According to data provided by Coin ATM Radar, a significant factor in the decline was the decrease in net ATM installations by crypto ATM manufacturer BitAccess, which fell by 26% from 9,160 in August 2022 to 6,774 as of January 1, 2024. However, the other two major manufacturers, General Bytes and Genesis Coin, continued to increase the number of Bitcoin ATMs throughout the year.
In addition, Bitcoin Depot, a major player in the crypto ATM field, went public on Nasdaq on July 3rd and recently expanded its operations to 28 states in the country. It also reported a revenue increase of 3% in the third quarter of 2023 compared to the same period of the previous year, reaching $179.5 million.
According to Coin ATM Radar’s data, there are a total of 498 crypto ATM operators in 71 countries. Bitcoin remains the leading cryptocurrency supported by crypto ATMs, with Bitcoin Cash, Ethereum, and Litecoin among the other cryptocurrencies available for purchase at ATMs.
