Gold prices steady amid Fed rate cut hopes; Trump-Putin talks awaited
ATLANTA - Bitcoin Depot (NASDAQ:BTM), a U.S.-based Bitcoin ATM operator with a market capitalization of approximately $400 million, announced Friday it has purchased additional Bitcoin as part of its treasury strategy that began in June 2024. The company has shown remarkable momentum, with its stock delivering a 285% return year-to-date, according to InvestingPro data.
This latest acquisition follows earlier purchases of 51 and 11 BTC in February 2025 and brings the company’s total Bitcoin holdings to over 100 BTC, according to a press release statement.
"As the digital asset landscape continues to evolve during a period of strong industry momentum and innovation, we view Bitcoin as a foundational piece of our long-term growth strategy," said Brandon Mintz, CEO and founder of Bitcoin Depot.
The announcement comes amid Bitcoin’s recent price performance, which reached an all-time high of over $111,000 in 2025, along with what the company described as increased institutional demand and regulatory clarity.
Bitcoin Depot operates more than 8,500 Bitcoin ATM locations across North America, making it the largest such network in the region. The company recently acquired regional operator Pelicoin’s assets to strengthen its market position.
The financial terms of the Bitcoin purchase were not disclosed.
Founded in 2016, Bitcoin Depot provides services that allow cash users to convert physical currency into Bitcoin through kiosks in 47 states and at retail locations in 31 states through its BDCheckout product. With annual revenue of nearly $600 million and a moderate debt level, the company maintains a solid financial position. For deeper insights into Bitcoin Depot’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes detailed analysis of the company’s performance metrics and future outlook.
In other recent news, Bitcoin Depot has announced a series of strategic moves and achievements. The company reported a 19% year-over-year increase in revenue for the first quarter of 2025, totaling $164.2 million, with a record net income of $12.2 million, reversing a previous loss. Adjusted EBITDA also saw a remarkable 315% rise to $20.3 million, showcasing the effectiveness of Bitcoin Depot’s kiosk strategy. In addition, Bitcoin Depot has acquired Pelicoin, LLC, expanding its presence in the Gulf South region with new kiosk locations across several states.
The acquisition aligns with Bitcoin Depot’s strategy to consolidate the market and enhance its cash-to-crypto services. Furthermore, the company has completed a corporate restructuring to simplify its organizational structure, which is expected to result in financial benefits, including a reduction in cash tax rate and lower professional service costs. Analyst firms H.C. Wainwright and Northland have both raised their stock price targets for Bitcoin Depot to $5.00, citing robust financial performance and optimistic revenue guidance. Bitcoin Depot’s expansion efforts continue with plans to deploy 2,000 additional kiosks and potential international expansion into two new countries in 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.