Bitcoin $87,835.52 Bitcoin Depot, which offers based ATM service, came up with a decrease in $ 137 million in the fourth quarter of 2022 to $ 137 million in 2024 quarters. The decline in the transaction volume of the company is remarkable.
Decrease in Bitcoin ATM revenues
New regulations in California are mentioned as one of the main reasons for the partial decrease in transaction volume. According to the company, Bitcoin price movements did not directly affect the flow of the case, but regulatory innovations have caused disruptions in business processes.
Brandon Mintz: “Despite the collapse in 2022, the process volumes continued to increase.”
In his official statements, CEO Brandon Mintz said that despite fluctuations in crypto money markets, the volume of transaction developed as expected. This shows that a business approach is adopted that is not directly related to the volatility of Bitcoin price.
Bitcoin Depot stands out with ATM services that only perform Bitcoin transactions. By removing other crypto assets from the portfolio, the company chose to focus on customers who prefer cash transactions. After the merger with the spac in Nasdaq, the share value decreases by approximately 85 %, while the market value is at $ 30 million.
Brandon Mintz: “The customer segment we focus on a niche group.”
The company uses kiosks obtained from another company for new ATM devices and integrates its own Bitcoin software into these devices. The cost of the devices varies between 5,000 and 7,000 dollars, and the investment cost is covered within a year.
Bitcoin Depot and Future Plans
Bitcoin Depot, which started to operate in 2016, concluded that it has achieved a transaction volume of approximately $ 3 billion so far in investor presentations. While the company primarily operates in the North American market, it also states that it evaluates the issue of international expansion by reaching the satisfaction of the market.
The situation points to the level of affecting business models of regulatory changes and market dynamics. It is observed that the revisions in technical and operational processes are supported by efforts to provide services to the target audience. Technical details and cost structure play an important role in the company’s long -term strategic planning.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
