- The company reported third-quarter sales of $135.3 million in 2024, a 25% decrease from the $179.5 million earned in the same period in 2023.
The financial figures for the third fiscal quarter of 2024 were made public by Bitcoin Depot, a crypto ATM manufacturer with headquarters in Atlanta.
The company reported $135.3 million in revenue for the quarter, a 25% drop from $179.5 million in the third quarter of 2023, in a filing with the U.S. Securities and Exchange Commission on Nov. 14. The business claimed to have more than $1.31 million in cryptocurrency holdings.
In addition to working to optimize current machines for increased profitability, we made major progress in growing our network of Bitcoin ATMs during the third quarter. With 8,300 machines at the conclusion of the quarter, we exceeded our objectives and demonstrated the team’s execution and vision to increase Bitcoin’s accessibility.
In August 2022, Bitcoin Depot went public with a valuation of $885 million. As of 4:22 p.m. ET (21:22 UTC) on November 15, the company’s Class A Common Stock, which is traded on NASDAQ and has the ticker BTM, is worth $1.99. At the moment, its market value is approximately $118.2 million.
According to the company’s website, Bitcoin Depot has about 16,700 locations in the US, Canada, and Australia.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
