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ATLANTA - Bitcoin Depot (NASDAQ:BTM), a U.S.-based Bitcoin ATM operator, announced Friday that its Board of Directors has appointed current President and Chief Operating Officer Scott Buchanan to succeed Brandon Mintz as Chief Executive Officer, effective January 1, 2026. The company, currently trading at $1.55, has shown strong profitability with a P/E ratio of 6.8 and appears significantly undervalued according to InvestingPro analysis.
Mintz, who founded the company, will transition to the role of Executive Chairman, where he will focus on shaping strategic vision, evaluating growth and M&A opportunities, and supporting the board in driving long-term value creation.
Buchanan has held senior leadership positions at Bitcoin Depot since 2019, serving as President since August 2025 and as COO and board member since March 2022. He also previously served as acting chief financial officer.
"This leadership evolution positions us to capitalize on the significant strategic, operational, and M&A opportunities ahead," Mintz said in the press release announcing the transition.
The company also appointed Elizabeth Simer as Chief Operating Officer. Simer brings over 15 years of experience in operational, financial, and strategic leadership, having previously held senior roles at companies including Slickdeals, Square, Intuit, and Opportunity Financial.
In her new position, Simer will oversee kiosk footprint expansion, product development, and operational scaling initiatives. This comes as Bitcoin Depot generated $635.64 million in revenue over the last twelve months, with a healthy gross profit margin of 25.2%.
Bitcoin Depot operates over 9,000 kiosk locations across North America as of August 2025, with Bitcoin ATMs in 47 states and its BDCheckout product available at retail locations in 31 states, according to the company statement. Despite recent share price weakness, with the stock down 48.68% over the past six months, InvestingPro data shows the company maintains strong financial health with a current ratio of 1.88, indicating liquid assets exceed short-term obligations.
The leadership changes come as part of a planned transition designed to support the company’s long-term strategy, operational scaling, and M&A objectives.
In other recent news, Bitcoin Depot reported its third-quarter 2025 earnings, demonstrating notable growth in both revenue and profitability. The company achieved a revenue of $163 million and an adjusted EBITDA of $16 million, surpassing B.Riley’s forecasts. Despite these positive results, B.Riley downgraded Bitcoin Depot’s stock rating from Buy to Neutral, citing weak fourth-quarter guidance as a concern. The price target was adjusted downwards to $2.30 from $6.00. During the earnings call, Bitcoin Depot discussed its strategic expansions and the regulatory challenges it faces, which could impact its operations. These developments come amidst a backdrop of significant growth and evolving market conditions.
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