The number of Bitcoin ATMs worldwide has seen an approximate 11.1% decrease compared to the beginning of 2023, marking the first decline after a decade of consistent growth. As of January 1, 2024, the count has fallen from 37,827 to 33,628, according to Coin ATM Radar.
Historically, the number of crypto ATMs had been steadily increasing each month since Coin ATM Radar started tracking them in October 2013, reaching an all-time high of 39,376 in August 2022. However, the numbers have been falling since then, particularly throughout 2023.
The United States, which hosts 82% of the world’s crypto ATMs, experienced the most significant reduction in 2023, with a 15.4% decrease from 32,672 to 27,631. Meanwhile, countries like Australia, Canada, Spain, and Poland have continued to increase their ATM counts.
A key factor in this decline was the drop in net ATM installations by BitAccess, a crypto ATM manufacturer, which saw a 26% reduction from 9,160 in August 2022 to 6,774 by January 1, 2024. However, other major manufacturers, General Bytes and Genesis Coin, have continued to increase the number of Bitcoin ATMs during the year.
In the midst of these changes, Bitcoin Depot, a major player in the crypto ATM space, went public on Nasdaq on July 3 and recently expanded its operations to 28 states in the country. It also reported a 3% increase in revenue to $179.5 million in the third quarter of 2023 compared to the same period in the previous year.
According to Coin ATM Radar, there are 498 crypto ATM operators across 71 countries. Bitcoin remains the most supported cryptocurrency in ATMs, with other digital currencies like Bitcoin Cash, Ethereum, and Litecoin also available for purchase through these machines.