The count of operational Bitcoin ATMs across the globe has taken an unexpected turn, showing a decline of around 11.1% from the beginning of 2023, marking a significant deviation from the typical pattern of increasing numbers witnessed annually over the past decade.
As per data from Coin ATM Radar, the tally of cryptocurrency ATMs worldwide amounted to 33,628 as of January 1, 2024, notably lower than the 37,827 recorded on January 1, 2023. The figures fluctuated throughout 2023, with intermittent rises and drops ultimately leading to a decrease by year-end. Historically, the count of installed crypto ATMs consistently surged month by month since the inception of tracking by Coin ATM Radar in October 2013, reaching an all-time peak of 39,376 in August 2022.
However, the numbers have been on a downward trajectory since then, particularly in the course of 2023. The most substantial decline in crypto ATM count in 2023 was observed in the United States, where the number decreased by 15.4% from 32,672 to 27,631. Nevertheless, the U.S. remains the host to 82% of the world’s crypto ATMs. Conversely, there has been a consistent rise in the numbers in countries like Australia, Canada, Spain, and Poland.
The decline in installations from crypto ATM maker BitAccess could potentially account for the overall reduction, with its net installations plummeting by 26% from 9,160 in August 2022 to 6,774 by January 1, 2024, according to Coin ATM Radar's data. On the other hand, Bitcoin Depot, a prominent player in the crypto ATM sector, made significant strides by listing on Nasdaq on July 3 and expanding its operations into the 28th U.S. state. Additionally, it reported a 3% year-over-year increase in revenue, totaling $179.5 million for the third quarter of 2023.
According to Coin ATM Radar, there are presently 498 crypto ATM operators spread across 71 countries. Bitcoin (BTC) remains the dominant cryptocurrency supported by these ATMs, with Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) also available for purchase through these machines.
