Bitcoin Depot

Bitcoin Depot

Operates Bitcoin ATMs and cash-to-crypto services

About Bitcoin Depot

Simplify's Rating
Why Bitcoin Depot is rated
C
Rated B on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Fintech

Crypto & Web3

Financial Services

Company Size

201-500

Company Stage

IPO

Headquarters

Atlanta, Georgia

Founded

2016

Overview

Bitcoin Depot helps people convert cash into Bitcoin through multiple channels across North America. It operates Bitcoin ATMs where users insert cash to receive Bitcoin in their wallet, BDCheckout at over 6,000 retail checkout points to fund Bitcoin wallets, and online purchases of Bitcoin via debit/credit card with Simplex. The service works by charging transaction fees on each cash-to-Bitcoin or online purchase, which is the company’s main revenue. The company differentiates itself with the largest North American network of Bitcoin kiosks and retail partners, catering especially to cash users, unbanked individuals, and those who want quick access to cryptocurrency without traditional banks. Its goal is to make entering the digital currency market easy and accessible for a broad set of customers.

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Simplify's Take

What believers are saying

  • Alex Holmes' appointment drives compliance edge amid fee cap regulations.
  • Kutt acquisition enters $165B social betting market with P2P wagering.
  • $7M debt cut via Silverview deal enhances investment flexibility.

What critics are saying

  • Massachusetts lawsuit claims Bitcoin Depot enabled $10M+ scams via kiosks.
  • March 2026 hack stole 50.9 BTC ($3.7M) from corporate wallets.
  • Connecticut order suspends license for exceeding 15% fees on 1,000 transactions.

What makes Bitcoin Depot unique

  • Largest North American Bitcoin ATM network with over 7,000 kiosks.
  • BDCheckout enables crypto buys at 16,000+ retail locations across 33 states.
  • Acquired National Bitcoin ATM, boosting U.S. market share to 30%.

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Funding

Total Funding

$316M

Above

Industry Average

Funded Over

1 Rounds

Spac IPO funding comparison data is currently unavailable. We're working to provide this information soon!
Spac IPO Funding Comparison
Coming Soon

Benefits

Health benefits + employer contribution

Premium coffee & gourmet teas

Weekly catered lunch

Monthly company outings & celebrations

Quarterly philanthropy activity

Company paid fitness pass

401k matching

Stock Price

Company News

Yahoo Finance
Apr 8th, 2026
Bitcoin Depot reports $3.7M BTC theft after hackers breach corporate wallets

Bitcoin Depot disclosed in an SEC filing that hackers stole approximately 50.9 BTC, valued at $3.665 million, from company-controlled wallets on 23 March. The attackers gained access to the company's IT systems and obtained credentials for digital asset settlement accounts. The Bitcoin ATM operator has activated incident response protocols and engaged external cybersecurity experts whilst notifying law enforcement authorities. Bitcoin Depot stated that customer-facing platforms and user data remained unaffected by the breach. The company classified the incident as material to its operations, citing potential reputational damage alongside legal, regulatory and incident response costs. This marks at least the second known security incident at Bitcoin Depot, following a 2023 breach affecting 58,000 users. Shares in Bitcoin Depot are down 44% over the last 30 days.

Yahoo Finance
Mar 25th, 2026
Bitcoin Depot CEO exits as regulators crack down on crypto ATM fees exceeding legal limits

Bitcoin Depot has replaced CEO Scott Buchanan and scaled back founder Brandon Mintz's role, appointing former MoneyGram chief Alex Holmes as the new leader. The shake-up follows a Connecticut cease-and-desist order shutting down the company's machines in the state for allegedly violating fee caps. The world's largest crypto ATM operator faces mounting regulatory pressure. Connecticut authorities found over 1,000 transactions where users were charged above the state's 15% fee limit and accused the company of failing to refund fraud victims. Bitcoin Depot's stock has fallen nearly 70% over the past year as compliance costs squeeze margins. Holmes's appointment signals a shift from aggressive expansion to strict compliance. His experience running MoneyGram's regulated remittance network suggests Bitcoin Depot is adapting to stricter oversight of physical crypto access points.

Yahoo Finance
Mar 13th, 2026
Bitcoin Depot to report Q4 2025 earnings with expected revenue of $113.93M and loss of $0.47 per share

Bitcoin Depot Inc is set to release its Q4 2025 earnings on 16 March 2026. Analysts expect Q4 revenue of $113.93 million with a loss of $0.47 per share. Full-year 2025 revenue is forecast at $612.74 million with earnings of $2.59 per share. In the previous quarter, the company's revenue of $162.48 million beat expectations by 7.77%, but earnings of $0.56 per share missed estimates by 15.79%. The stock fell 17.53% following that release. Three analysts have set an average one-year price target of $25.20, suggesting a 453.85% upside from the current price of $4.55. The average brokerage recommendation is 2.3, indicating an "outperform" rating. Revenue and earnings estimates have remained flat over the past 90 days.

GlobeNewswire
Mar 2nd, 2026
Bitcoin Depot acquires social betting platform Kutt to diversify beyond Bitcoin ATMs

Bitcoin Depot, a US-based Bitcoin ATM operator, has acquired Kutt, a peer-to-peer social betting platform that enables users to wager directly against each other on sports, entertainment and user-generated events. The acquisition marks Bitcoin Depot's first entry into the social betting market as it diversifies beyond its core Bitcoin ATM business. Founded in 2022, Kutt operates in most US states and removes the traditional sportsbook house from betting, allowing users to set their own terms. The platform is positioned within a fast-growing fintech segment, with Americans wagering over $165 billion through US sportsbooks in 2025. Kutt will continue operating under its existing brand with its leadership team remaining in place. Bitcoin Depot has operated over 9,000 kiosk locations globally as of August 2025.

TradingView
Dec 29th, 2025
Bitcoin Depot cuts debt by $7M in amended credit deal with Silverview Credit Partners

Bitcoin Depot has amended its credit agreement with Silverview Credit Partners and other lenders, making a $7.0 million payment that reduces both Tranche A and Tranche B Term Loans by $3.5 million each. The amendment, signed on 19 December 2025, also updates the remaining amortisation schedule. The agreement raises the monetary judgement threshold for an Event of Default to $3.5 million and provides exceptions for certain existing matters. Bitcoin Depot says the changes are designed to lower debt and enhance financial flexibility. The amendment represents the second modification to the company's Second Amended and Restated Credit Agreement with Silverview Credit Partners.

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