Bitcoin Depot Adds Additional $5 Million in Bitcoin to its Treasury Holdings

Rhea-AI Summary

Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM operator and fintech company, has announced the purchase of an additional $5 million in Bitcoin, acquiring 51 BTC as part of its treasury strategy. This addition brings the company's total Bitcoin holdings to 71.5 BTC.

The treasury strategy, which was first announced in June 2024, reflects the company's confidence in Bitcoin as a significant financial asset and store of value. CEO Brandon Mintz highlighted that this move aligns with their mission of providing easy Bitcoin access while allowing shareholders to benefit from potential BTC appreciation, particularly considering recent accounting standards updates.

Positive

• Added $5 million worth of Bitcoin (51 BTC) to treasury holdings
• Increased total Bitcoin holdings to 71.5 BTC
• Strategic positioning to benefit from potential Bitcoin appreciation

Negative

• None.

Insights

Financial Strategy Analyst

Bitcoin Depot's $5 million Bitcoin acquisition represents a strategic alignment between their operational focus and treasury management, marking a 71.5 BTC position that merits careful analysis. This move is particularly significant for three key reasons:

First, as a Bitcoin ATM operator, this treasury strategy creates natural hedging benefits against operational risks. When Bitcoin prices rise, their ATM transaction volumes typically increase and their treasury holdings would appreciate simultaneously, creating a positive correlation between operational performance and asset value.

Second, the timing coincides with the recent FASB accounting standards update allowing companies to report digital assets at fair value, which enhances transparency for investors and potentially reduces earnings volatility. This regulatory clarity makes Bitcoin holdings more attractive from an accounting perspective and could influence other financial services companies to follow suit.

Third, this treasury allocation demonstrates strong conviction in their business model, as they're essentially doubling down on their core market. For shareholders, this provides leveraged exposure to Bitcoin price movements while maintaining the company's operational benefits from their ATM network. However, this also increases their correlation with cryptocurrency markets, which could amplify both positive and negative price movements.

The strategic implications extend beyond mere asset diversification. By holding Bitcoin directly, Bitcoin Depot can potentially reduce their working capital needs for ATM operations and create additional revenue streams through yield generation or lending against their holdings. This vertical integration approach could improve operational efficiency and potentially lead to higher margins in their core business.

ATLANTA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Bitcoin Depot (NASDAQ: BTM) (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today announced it has purchased an additional $5 million in Bitcoin as part of its treasury strategy, first announced in June of last year.

With yesterday’s purchase of 51 BTC, the Company now holds 71.5 Bitcoin in its treasury, substantially increasing its position in the leading cryptocurrency. 

"Adopting Bitcoin as part of our treasury strategy underscores our long-standing belief in Bitcoin as a significant financial asset and a store of value," said Brandon Mintz, CEO of Bitcoin Depot. "We have always believed in providing easy access to Bitcoin for everyone, and this move reaffirms our confidence in Bitcoin’s potential for growth. Given the recent accounting standards update, it also allows our shareholders to benefit from future BTC appreciation.”

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 8,400 kiosk locations as of December 31, 2024. Learn more at www.bitcoindepot.com. 

Cautionary Statement Regarding Forward-Looking Statements
This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, our ability to strengthen our financial profile, and worldwide growth in the adoption and use of cryptocurrencies. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of our projected financial information; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Contacts:

Investors 
Cody Slach
Gateway Group, Inc. 
949-574-3860 
BTM@gateway-grp.com 

Media 
Brenlyn Motlagh, Ryan Deloney 
Gateway Group, Inc.
949-574-3860 
BTM@gateway-grp.com 

FAQ

How much Bitcoin did Bitcoin Depot (BTM) purchase in February 2025?

Bitcoin Depot purchased 51 BTC, worth $5 million, in February 2025.

What is Bitcoin Depot's (BTM) total Bitcoin treasury holdings as of February 2025?

Bitcoin Depot holds 71.5 Bitcoin in its treasury as of February 2025.

When did Bitcoin Depot (BTM) first announce its Bitcoin treasury strategy?

Bitcoin Depot first announced its Bitcoin treasury strategy in June 2024.

How will Bitcoin Depot's (BTM) Bitcoin purchase benefit shareholders?

Shareholders can benefit from potential future Bitcoin appreciation, supported by recent accounting standards updates.