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Bitcoin Depot Inc. (NASDAQ:BTM) announced Monday the appointment of William Alexander “Alex” Holmes to its board of directors, effective August 20. Holmes will also join the board’s audit committee.
According to a statement in a press release filed with the Securities and Exchange Commission, Holmes fills a vacancy created by the resignation of Tim Vanderham. Holmes will serve until the next annual meeting of stockholders or until a successor is elected and qualified. InvestingPro data shows the company maintains a fair financial health score, with analysts expecting net income growth this year.
The board determined Holmes meets the independence and financial literacy requirements for audit committee membership under Nasdaq rules and the Securities Exchange Act.
Holmes is currently executive vice chairman of United Texas Bank and serves on the bank’s risk committee. He also acts as a strategic advisor, investor, and board member to several startups in the payments and web3 industries.
From 2016 to 2024, Holmes was chairman and CEO of MoneyGram International, Inc., where he held various leadership roles over sixteen years, including chief financial officer and chief operating officer.
The terms of Holmes’s compensation as a board member have not yet been determined and will be disclosed in a future amendment to the filing. The company reported there are no arrangements or understandings with any other person regarding Holmes’s appointment, and no transactions requiring disclosure under SEC rules.
Bitcoin Depot’s Class A common stock and warrants trade on the Nasdaq Stock Market under the symbols BTM and BTMWW, respectively.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Bitcoin Depot reported a 6% increase in revenue for the second quarter of 2025, reaching $172.1 million. The company also saw a significant rise in net income, which increased by 183% to $12.3 million. Despite these positive financial results, the market showed concerns over future growth prospects. Meanwhile, H.C. Wainwright raised its price target for Bitcoin Depot to $6.50, citing an optimistic EBITDA outlook, although it slightly lowered its 2025 revenue estimate to $630.0 million due to marginally lower kiosk transaction revenues. Additionally, Bitcoin Depot appointed Alex Holmes, former Chairman and CEO of MoneyGram International, to its Board of Directors and Audit Committee. Holmes brings over 25 years of experience in payments, compliance, and blockchain innovation to the company. These developments are part of Bitcoin Depot’s recent strategic and financial activities.
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