13 February 2026
Bitcoin Depot closed its first quarter with a notable profit of $12,2 million, a marked improvement from the $4,2 million loss it posted last year. This positive development has led to a 22% increase in the company’s shares, pushing its price to $2. Despite this upward trend, the stock remains 79% lower than it was at the time of its July 2023 Nasdaq listing.
Bitcoin Depot, which is based in Atlanta and operates more than 8.400 kiosks across North America where users can exchange cash for Bitcoin, saw revenue increase 19% year-over-year to $164,2 million, driven primarily by an increase in the number of kiosks and a higher average transaction size.
As part of its financial strategy, Bitcoin Depot now holds $7,8 million worth of Bitcoin, a significant increase from $600.000 in the previous quarter. This change reflects a switch to fair value accounting. The company began buying Bitcoin with a portion of its cash reserves last year, while also holding a negligible amount of Ethereum.
Bitcoin Depot has kiosks in 48 states, but CEO Brandon Mintz announced that the company will seek a license to operate in New York this year. According to a presentation to shareholders, the state’s population could support up to 3.000 kiosks. “New York remains one of the largest untapped markets for Bitcoin kiosks,” he said.
Since its founding in 2016, Bitcoin Depot has processed approximately $3 billion in transactions through its machines, which can be found at gas stations, convenience stores, and other brick-and-mortar locations. The idea that users can “get Bitcoin in under a minute” has undoubtedly contributed to its success.
Despite this, the company is facing challenges. California's recent policy of requiring daily transaction requirements has negatively impacted its revenue. In addition, there is increasing political pressure to fraud to combat older Americans, with proposals to introduce purchase limits and refund policies for fraudulent transactions.
Bitcoin Depot has 19 compliance officers and robust transaction monitoring systems. There is a need for transparency and security in this sector, and the measures in place are crucial in safeguarding the interests of customers. However, Bitcoin ATMs can also have educational value, as suggested by some proponents.
It remains fascinating how the world of cryptocurrency evolves, as do the reactions of politicians to this new technology. The future promises to be challenging yet dynamic. Will we see more of these customer touchpoints in our communities soon?
What are the key numbers for Bitcoin Depot this quarter?
Bitcoin Depot reported a profit of $12,2 million and a 19% increase in revenue to $164,2 million, a significant improvement from a loss of $4,2 million last year.
Why is New York an important market for Bitcoin Depot?
New York has the potential for many Bitcoin kiosks, with estimates of up to 3.000 in the future. The company is in the process of obtaining a license to officially operate there.
What risks do Bitcoin ATM users face?
There are concerns about fraud, especially among older users. Politicians are calling for measures to prevent scams, such as purchase limits and refunds for fraudulent transactions.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
