Decline of 11.1% in Global Bitcoin ATM Numbers in 2023 Shatters a Decade-Long Growth Trend

In a historic turn of events, the global count of Bitcoin ATMs fell by 11.1% in 2023, marking the first decline in a decade-long growth streak. As of January 1, 2024, the total number of Bitcoin ATMs worldwide stands at 33,628, down from 37,827 recorded on the same date in 2023.

The United States, home to 82% of all Bitcoin ATMs globally, experienced the most significant decline, with the count falling by 15.4% from 32,672 to 27,631. Despite this, the U.S. still hosts the majority of the world’s Bitcoin ATMs. On the other hand, countries like Australia, Canada, Spain, and Poland saw a steady increase in their Bitcoin ATM counts.

The decline in the number of Bitcoin ATMs can be attributed to several factors. One of the key contributors was the crypto ATM manufacturer BitAccess, which saw a 26% reduction in installations, dropping from 9,160 in August 2022 to 6,774 on January 1, 2024. In contrast, manufacturers like General Bytes and Genesis Coin continued to add Bitcoin ATMs throughout the year.

Despite the overall decline, some companies in the crypto ATM industry made significant strides in 2023. Bitcoin Depot, a prominent player in the crypto ATM industry, went public on the Nasdaq on July 3, 2023, and expanded its operations to its 28th U.S. state. It also reported a Q3 2023 revenue of $179.5 million, indicating a 3% year-on-year increase.

In response to the decline in Bitcoin ATM numbers, operators have adopted several strategies to adapt to the changing market dynamics. Some operators have shifted their business models to accommodate the changing landscape. For instance, Bitcoin Depot converted its 7,000 physical machines to BitAccess software, reducing operational costs related to software licensing fees.

New strategies

New strategies have been implemented to boost demand for crypto ATMs. Bitcoin of America unveiled a universal kiosk that combines the functions of a traditional ATM and a Bitcoin ATM. This allows users to dispense cash from debit cards, buy cryptocurrency with cash, and sell crypto in exchange for cash.

Bitcoin remains the dominant cryptocurrency supported by these ATMs, although they also facilitate the purchase of other cryptocurrencies like Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC).


The decline in Bitcoin ATMs in 2023 marks a significant shift in the crypto ATM landscape, breaking a 10-year growth streak. It remains to be seen how this trend will evolve in the future and what impact it will have on the global cryptocurrency market.

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