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Bitcoin ATM Operator Bitcoin Depot Announces Expansion Deal with Large Convenience Store Operator

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Bitcoin Depot Inc. announces a retail partnership with a leading operator of convenience stores in the U.S. to install Bitcoin ATMs in 63 additional stores across multiple metropolitan areas, strengthening its retail footprint. This expansion aligns with the company's commitment to bringing Bitcoin to the masses and creating unmatched value for retail partners and new customers. The partnership will make Bitcoin Depot's kiosks available in 19 states, providing easy and accessible crypto access in c-store locations across the South.
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The expansion of Bitcoin Depot's Bitcoin ATM network into additional convenience store locations represents a strategic move to enhance the company's market presence and accessibility. By increasing the number of Bitcoin ATMs, Bitcoin Depot is capitalizing on the growing demand for cryptocurrency services in everyday retail environments. This could potentially drive higher transaction volumes and revenue growth for the company, as the convenience factor is a significant driver in consumer adoption of new technologies.

Furthermore, the partnership with a leading operator of convenience stores could create synergies that benefit both entities. For Bitcoin Depot, access to high-traffic retail locations can lead to increased brand visibility and customer engagement. For the convenience store operator, offering Bitcoin ATM services may attract a customer base that is tech-savvy and looking for quick financial transactions, potentially increasing foot traffic and sales of other store products.

However, the impact on Bitcoin Depot's financial performance will depend on the adoption rate of Bitcoin ATMs by consumers and the competitive landscape of cryptocurrency services. It is also important to monitor the regulatory environment, as changes in cryptocurrency regulations could influence the operation and profitability of Bitcoin ATMs.

Bitcoin Depot's announcement of expanding its Bitcoin ATM network could be seen as a positive signal to investors, indicating the company's proactive growth strategy and its efforts to capture a larger share of the cryptocurrency market. The deployment of additional Bitcoin ATMs across the U.S. South may lead to an increase in the company's operational footprint, which could translate into higher earnings potential in the long run.

Investors should consider the company's past financial performance and the scalability of its business model when evaluating the potential impact of this expansion on the stock price. It's crucial to assess whether the projected increase in BTM installations aligns with the company's revenue growth targets and if the capital expenditure required for this expansion justifies the expected return on investment.

Additionally, the market's response to the expansion could be influenced by Bitcoin's price volatility. Fluctuations in Bitcoin prices can affect consumer usage of BTMs, which in turn could impact Bitcoin Depot's transaction-based revenue. Investors should weigh these factors alongside broader market trends when considering the implications for their portfolios.

The expansion of Bitcoin Depot's Bitcoin ATM (BTM) network is indicative of the increasing mainstream acceptance of cryptocurrencies. BTMs serve as a bridge between the traditional financial system and the digital currency world, offering a physical touchpoint for consumers to engage with Bitcoin. This increased accessibility could foster greater public familiarity and trust in cryptocurrencies, potentially accelerating adoption rates.

It's important to note that the success of this expansion also hinges on the user experience offered by Bitcoin Depot's BTMs. The ease of use, transaction speed and security features of the kiosks will play a critical role in customer satisfaction and repeat usage. As cryptocurrencies become more integrated into everyday transactions, the quality of service provided by BTM operators like Bitcoin Depot will be a key differentiator in the market.

Moreover, the strategic placement of BTMs in convenience stores across multiple states suggests a targeted approach to reach demographics that may benefit from alternative financial services. The ability to convert cash into Bitcoin on-the-go caters to a segment of the population that might not have easy access to online cryptocurrency exchanges or traditional banking services.

Bitcoin Depot Plans to Install Bitcoin ATMs in Locations Across the US South

ATLANTA, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”) (NASDAQ: BTM), a U.S.-based Bitcoin ATM operator and leading fintech company, today announced a retail partnership with a leading operator of convenience stores in the U.S.

Bitcoin Depot plans to install its BTMs in an additional 63 stores across multiple metropolitan areas, strengthening Bitcoin Depot’s retail footprint. This partnership augments Bitcoin Depot's comprehensive growth plan, which focuses on increasing its BTM network and continuing to build a robust pipeline of major regional and national retail partners. Last month, the Company announced an additional partnership that includes a deployment of nearly 1,000 BTMs nationally.

“This expansion aligns with our commitment to bringing Bitcoin to the masses,” said Bitcoin Depot CEO Brandon Mintz. “Our goal is to bring easy and convenient crypto access to a plethora of communities while creating unmatched value for our retail partners and welcoming new customers."

This expansion allows Bitcoin Depot customers to purchase Bitcoin in easy and accessible c-store locations across the South where a variety of additional amenities are available. As part of the partnership, additional Bitcoin Depot's kiosks will now be available in the following states including Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

Bitcoin Depot’s products and services provide an intuitive, quick, and convenient process for converting cash into Bitcoin, giving users the ability to access the broader digital financial system by conveniently purchasing Bitcoin at Bitcoin ATMs in 48 states. In addition to Bitcoin ATMs, Bitcoin Depot also has BDCheckout enabled for customers to fund their wallets with cash at participating retail locations in 28 states nationwide.

About Bitcoin Depot 
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with approximately 6,400 kiosk locations as of September 30, 2023. Learn more at www.bitcoindepot.com

Contacts:

Investors
Cody Slach, Alex Kovtun
Gateway Group
949-574-3860
btm@gateway-grp.com

Media
Christina Lockwood, Brenlyn Motlagh, Ryan Deloney
Gateway Group
949-574-3860
btm@gateway-grp.com


FAQ

What is the latest retail partnership announced by Bitcoin Depot Inc.?

Bitcoin Depot Inc. announced a retail partnership with a leading operator of convenience stores in the U.S. to install Bitcoin ATMs in 63 additional stores across multiple metropolitan areas.

In how many states will Bitcoin Depot's kiosks be available as part of the partnership?

Bitcoin Depot's kiosks will now be available in 19 states including Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

What is the goal of Bitcoin Depot Inc. with this expansion?

The goal of Bitcoin Depot Inc. is to bring easy and convenient crypto access to a plethora of communities while creating unmatched value for retail partners and welcoming new customers.

What services does Bitcoin Depot Inc. provide?

Bitcoin Depot Inc. provides an intuitive, quick, and convenient process for converting cash into Bitcoin, giving users the ability to access the broader digital financial system by conveniently purchasing Bitcoin at Bitcoin ATMs in 48 states. In addition to Bitcoin ATMs, Bitcoin Depot also has BDCheckout enabled for customers to fund their wallets with cash at participating retail locations in 28 states nationwide.

Bitcoin Depot Inc.

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