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Bitcoin Depot gains multi-million dollar investment

Friday, April 12, 2024 — 12:23:29 (EDT)

ATLANTA, April 12, 2024 (GLOBE NEWSWIRE) -- Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced an outside investment firm has committed a multi-million-dollar investment into 250 Bitcoin Depot BTM kiosks as part of the Company’s profit share program. The BTMs, operated by Bitcoin Depot, will provide passive income to the investment fund by paying out a percentage of monthly profits from these 250 kiosks. In addition to the 250 BTMs included in the initial agreement, the Fund has the option to invest in an additional 750 kiosks.

Bitcoin Depot's profit-sharing program, launched in 2023, offers qualified partners a unique opportunity to participate in its North American expansion strategy. The program provides a comprehensive investment package, including kiosk use, operating software, shipping, installation, and ongoing support. It also offers a passive income stream with monthly profit splits, providing a direct financial benefit to the partner. By partnering with Bitcoin Depot, companies can leverage the Company’s expertise in BTM operations and its integration with BitAccess software, the leading software suite for Bitcoin ATM operations.

"We launched this program to give our partners the opportunity to become part of the future of digital finance by investing in its underlying infrastructure, and we couldn’t be happier with its success since its commencement,” said Scott Buchanan, COO of Bitcoin Depot. "Our program provides partners with a turn-key solution to building passive income with little to no management responsibilities required. We’re thrilled to be partnering with an investor equally aligned in our vision of making Bitcoin more convenient and accessible for all.”

Bitcoin Depot has already added more than 350 additional BTM kiosk locations to the profit share program. This news follows its March 2024 announcement of the sale of 50 new BTM kiosks as part of the program, signifying the initiative's momentum as Bitcoin Depot continues its holistic expansion strategy in 2024 and beyond. To learn more about Bitcoin Depot’s profit share program, visit: bitcoindepot.com/profit-sharing-program/.

Bitcoin Depot’s products and services provide an intuitive, quick, and convenient process for converting cash into Bitcoin. This allows users to access the broader digital financial system, including using Bitcoin to make payments, transfers, remittances, online purchases, and investments.

The company, which went public in July 2023, holds the largest market share in North America, with over 7,300 locations. In April 2024, the company surpassed 8,000 signed BTM locations ahead of schedule to achieve the largest installed fleet of locations in its history. The Company also recently announced expansions into Puerto Rico and Australia.

About Bitcoin Depot

Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with approximately 7,300 kiosk locations as of April 1, 2024. Learn more at www.bitcoindepot.com.

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Source: Company press release.