Bitcoin Depot purchases National Bitcoin ATM assets, financial details not revealed.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 02 2025
0mins
Should l Buy BTM?
Acquisition Announcement: Bitcoin Depot has acquired the assets of Westcliff Technologies, adding over 500 kiosks to its network and reinforcing its position as North America's largest Bitcoin ATM operator.
Service Continuity and Market Impact: The acquisition will not disrupt service for existing National Bitcoin ATM customers, and Bitcoin Depot's U.S. market share now stands at approximately 30%, with no material impact on recent financial results.
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Analyst Views on BTM
Wall Street analysts forecast BTM stock price to rise
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 0.950
Low
2.30
Averages
3.93
High
6.00
Current: 0.950
Low
2.30
Averages
3.93
High
6.00
About BTM
Bitcoin Depot Inc. is a Bitcoin ATM (BTM) operator and fintech company. The Company provides its users with simple 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 47 states and at thousands of name-brand retail locations in 31 states through its BDCheckout product. The Company has over 9,000 kiosk locations in North America. Its mobile app includes a buy online feature that connects consumers to a third-party service, Simplex powered by Nuvei, that allows consumers to buy Bitcoin without going to a kiosk or using BDCheckout. Its BTMs offer one-way exchange of cash-to-Bitcoin. The Company also operates a BTM device and transaction processing system, BitAccess, which provides software and operational capabilities to third-party BTM operators. The Company is the exclusive provider and operator of BTMs for Circle K in the United States and Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bitcoin Depot Announces 1-for-7 Reverse Stock Split
- Reverse Stock Split Decision: Bitcoin Depot will implement a 1-for-7 reverse stock split effective February 23, 2026, aimed at increasing share price to attract more investors, despite shareholders previously authorizing a split range of 1-for-5 to 1-for-20.
- Board Approval: The board approved this reverse split ratio on February 12, 2026, reflecting the company's concern over stock performance and aiming to improve market perception and bolster investor confidence.
- Warrant Adjustments: Post-split, the exercise price for warrants will increase to $80.50 per share, which will affect existing shareholders' potential returns and may lead to decreased liquidity in the short term.
- Market Reaction: Following the announcement of the reverse split, BTM shares fell 5.5% in premarket trading, indicating a cautious market response to the decision, which could impact the company's future financing capabilities and investor confidence.
See More
Bitcoin Depot Shareholders Approve Reverse Stock Split
- Reverse Split Decision: Bitcoin Depot shareholders approved a reverse stock split ratio of one-for-seven, effective February 23, 2026, after initially considering a range of one-for-five to one-for-twenty, aiming to boost the share price to comply with Nasdaq's minimum bid requirements.
- Warrant Exercise Price Increase: Following the reverse split, the exercise price for all outstanding warrants will rise from $11.50 to $80.50 per share, significantly impacting potential returns for investors and altering the company's capital structure.
- Q3 Revenue Growth: The latest financial filing reveals a 20% year-over-year increase in Q3 revenue to $162.5 million, driven by expanded kiosk deployments, while net income surged 139% to $5.5 million, indicating robust operational performance amid market challenges.
- Stock Price Decline: Bitcoin Depot's shares have been in a steady downtrend since October 2025, having lost nearly 77% since the end of September last year, and the stock has fallen over 30% this year, reflecting investor concerns about the company's future prospects.
See More
Bitcoin Depot Inc. Announces Reverse Stock Split at a Ratio of One-for-Seven
Bitcoin Depot Announcement: Bitcoin Depot has announced a one-for-seven reverse stock split, which is a financial maneuver that reduces the number of shares outstanding while increasing the share price proportionally.
Impact on Shareholders: This reverse stock split is intended to enhance the company's stock price and potentially attract more investors, as it may improve the perception of the stock's value.
See More
Bitcoin Depot Reveals Reverse Stock Split Plan
Bitcoin Depot Announcement: Bitcoin Depot has announced a reverse stock split, which is a corporate action that reduces the number of a company's outstanding shares while increasing the share price proportionally.
Impact on Shareholders: The reverse stock split is intended to enhance the company's stock price and potentially attract more investors, as it may improve the perception of the stock's value.
Market Reactions: Following the announcement, there may be fluctuations in the stock market as investors react to the news and adjust their positions accordingly.
Future Plans: Bitcoin Depot's management may outline further strategic plans or initiatives following the reverse stock split to bolster investor confidence and drive growth.
See More
Bitcoin Depot Acquires Instant Coin Bank to Expand Southern Market Presence
- Market Expansion: Bitcoin Depot announced the acquisition of regional Bitcoin ATM operator Instant Coin Bank, further expanding its footprint in Texas and Oklahoma, thereby enhancing its influence in the south-central United States.
- Brand Integration: The ATM network of Instant Coin Bank will be integrated into the Bitcoin Depot platform in the coming weeks, with all locations transitioning to Bitcoin Depot branding, ensuring no disruption in customer service.
- Functionality Enhancement: Existing ATM machines will retain their core functionality while gaining access to Bitcoin Depot's 24/7 customer support, compliance programs, and technology systems, thereby improving the user experience.
- Strategic Significance: This acquisition aligns with Bitcoin Depot's strategy to consolidate the fragmented Bitcoin ATM market, further solidifying its market position in Texas and surrounding states.
See More
FBI Reports Over $300 Million Lost to Bitcoin ATM Scams in 2025
- Surge in Fraud Losses: The FBI reports that losses from Bitcoin ATM scams have reached $333.5 million in 2025, a significant increase from approximately $250 million in 2024, indicating a troubling trend that poses serious financial risks to investors and users alike.
- Common Scam Tactics: Scammers manipulate victims into using ATMs to convert cash into cryptocurrency, which is then sent directly to the scammer's wallet, leading to substantial losses for unsuspecting users and highlighting the urgent need for market regulation.
- Increased Legislative Attention: Senator Cynthia Lummis of Wyoming has expressed concerns over the surge in Bitcoin ATM scams and aims to address the issue through a cryptocurrency market structure bill, demonstrating lawmakers' commitment to consumer protection.
- Notable Victim Cases: Despite warnings from law enforcement and store staff, victims like a 71-year-old woman have lost thousands of dollars at Bitcoin ATMs, underscoring the vulnerability of the public to cryptocurrency scams and the necessity for enhanced education on the risks involved.
See More
Bitcoin Depot Announces 1-for-7 Reverse Stock Split
- Reverse Stock Split Decision: Bitcoin Depot will implement a 1-for-7 reverse stock split effective February 23, 2026, aimed at increasing share price to attract more investors, despite shareholders previously authorizing a split range of 1-for-5 to 1-for-20.
- Board Approval: The board approved this reverse split ratio on February 12, 2026, reflecting the company's concern over stock performance and aiming to improve market perception and bolster investor confidence.
- Warrant Adjustments: Post-split, the exercise price for warrants will increase to $80.50 per share, which will affect existing shareholders' potential returns and may lead to decreased liquidity in the short term.
- Market Reaction: Following the announcement of the reverse split, BTM shares fell 5.5% in premarket trading, indicating a cautious market response to the decision, which could impact the company's future financing capabilities and investor confidence.
See More
Bitcoin Depot Shareholders Approve Reverse Stock Split
- Reverse Split Decision: Bitcoin Depot shareholders approved a reverse stock split ratio of one-for-seven, effective February 23, 2026, after initially considering a range of one-for-five to one-for-twenty, aiming to boost the share price to comply with Nasdaq's minimum bid requirements.
- Warrant Exercise Price Increase: Following the reverse split, the exercise price for all outstanding warrants will rise from $11.50 to $80.50 per share, significantly impacting potential returns for investors and altering the company's capital structure.
- Q3 Revenue Growth: The latest financial filing reveals a 20% year-over-year increase in Q3 revenue to $162.5 million, driven by expanded kiosk deployments, while net income surged 139% to $5.5 million, indicating robust operational performance amid market challenges.
- Stock Price Decline: Bitcoin Depot's shares have been in a steady downtrend since October 2025, having lost nearly 77% since the end of September last year, and the stock has fallen over 30% this year, reflecting investor concerns about the company's future prospects.
See More
Bitcoin Depot Inc. Announces Reverse Stock Split at a Ratio of One-for-Seven
Bitcoin Depot Announcement: Bitcoin Depot has announced a one-for-seven reverse stock split, which is a financial maneuver that reduces the number of shares outstanding while increasing the share price proportionally.
Impact on Shareholders: This reverse stock split is intended to enhance the company's stock price and potentially attract more investors, as it may improve the perception of the stock's value.
See More
Bitcoin Depot Reveals Reverse Stock Split Plan
Bitcoin Depot Announcement: Bitcoin Depot has announced a reverse stock split, which is a corporate action that reduces the number of a company's outstanding shares while increasing the share price proportionally.
Impact on Shareholders: The reverse stock split is intended to enhance the company's stock price and potentially attract more investors, as it may improve the perception of the stock's value.
Market Reactions: Following the announcement, there may be fluctuations in the stock market as investors react to the news and adjust their positions accordingly.
Future Plans: Bitcoin Depot's management may outline further strategic plans or initiatives following the reverse stock split to bolster investor confidence and drive growth.
See More
Bitcoin Depot Acquires Instant Coin Bank to Expand Southern Market Presence
- Market Expansion: Bitcoin Depot announced the acquisition of regional Bitcoin ATM operator Instant Coin Bank, further expanding its footprint in Texas and Oklahoma, thereby enhancing its influence in the south-central United States.
- Brand Integration: The ATM network of Instant Coin Bank will be integrated into the Bitcoin Depot platform in the coming weeks, with all locations transitioning to Bitcoin Depot branding, ensuring no disruption in customer service.
- Functionality Enhancement: Existing ATM machines will retain their core functionality while gaining access to Bitcoin Depot's 24/7 customer support, compliance programs, and technology systems, thereby improving the user experience.
- Strategic Significance: This acquisition aligns with Bitcoin Depot's strategy to consolidate the fragmented Bitcoin ATM market, further solidifying its market position in Texas and surrounding states.
See More
FBI Reports Over $300 Million Lost to Bitcoin ATM Scams in 2025
- Surge in Fraud Losses: The FBI reports that losses from Bitcoin ATM scams have reached $333.5 million in 2025, a significant increase from approximately $250 million in 2024, indicating a troubling trend that poses serious financial risks to investors and users alike.
- Common Scam Tactics: Scammers manipulate victims into using ATMs to convert cash into cryptocurrency, which is then sent directly to the scammer's wallet, leading to substantial losses for unsuspecting users and highlighting the urgent need for market regulation.
- Increased Legislative Attention: Senator Cynthia Lummis of Wyoming has expressed concerns over the surge in Bitcoin ATM scams and aims to address the issue through a cryptocurrency market structure bill, demonstrating lawmakers' commitment to consumer protection.
- Notable Victim Cases: Despite warnings from law enforcement and store staff, victims like a 71-year-old woman have lost thousands of dollars at Bitcoin ATMs, underscoring the vulnerability of the public to cryptocurrency scams and the necessity for enhanced education on the risks involved.
See More
