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BTM 
Bitcoin Depot Inc. (BTM)
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Upturn Advisory Summary
01/08/2026: BTM (4-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Above Average Performance
These Stocks/ETFs, based on Upturn Advisory, frequently surpass the market, reflecting reliable and trustworthy advice.
Number of Analysts
4 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $3.93
1 Year Target Price $3.93
| 3 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 62.14% | Avg. Invested days 20 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 01/08/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 99.56M USD | Price to earnings Ratio 8.5 | 1Y Target Price 3.93 |
Price to earnings Ratio 8.5 | 1Y Target Price 3.93 | ||
Volume (30-day avg) 4 | Beta 0.87 | 52 Weeks Range 0.93 - 6.88 | Updated Date 01/8/2026 |
52 Weeks Range 0.93 - 6.88 | Updated Date 01/8/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.16 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 1.44% | Operating Margin (TTM) 7.25% |
Management Effectiveness
Return on Assets (TTM) 33% | Return on Equity (TTM) 53.8% |
Valuation
Trailing PE 8.5 | Forward PE 12.36 | Enterprise Value 112449211 | Price to Sales(TTM) 0.16 |
Enterprise Value 112449211 | Price to Sales(TTM) 0.16 | ||
Enterprise Value to Revenue 0.18 | Enterprise Value to EBITDA 1.71 | Shares Outstanding 35360672 | Shares Floating 31997354 |
Shares Outstanding 35360672 | Shares Floating 31997354 | ||
Percent Insiders 11.64 | Percent Institutions 36.82 |
Upturn AI SWOT
Bitcoin Depot Inc.
Company Overview
History and Background
Bitcoin Depot Inc. was founded in 2016 with the mission to make Bitcoin more accessible. The company has rapidly grown its network of Bitcoin ATMs across the United States, aiming to provide a user-friendly and secure way for individuals to buy and sell cryptocurrency. Key milestones include significant expansion of its ATM network and strategic partnerships to enhance accessibility.
Core Business Areas
- Bitcoin ATM Network: Bitcoin Depot operates a large network of Bitcoin ATMs across the United States, allowing users to purchase Bitcoin using cash. This is their primary revenue-generating segment, focusing on ease of use and broad geographical coverage.
- Digital Wallet Services: While not a standalone product for users, the company's platform integrates with digital wallets to facilitate transactions for its ATM users.
Leadership and Structure
Bitcoin Depot Inc. is led by its co-founders, Ethan Thorne (CEO) and Ryan Radloff (COO). The company operates as a privately held entity with a lean management structure focused on operational efficiency and network expansion.
Top Products and Market Share
Key Offerings
- Bitcoin ATM Services: Bitcoin Depot's primary offering is its network of Bitcoin ATMs. The company does not publicly disclose specific user numbers or revenue per ATM. Its main competitors in the US Bitcoin ATM market include Coinflip, Coinstar (which partners with Coinme), and various smaller independent operators. Market share data for Bitcoin ATMs is fragmented and difficult to ascertain precisely, but Bitcoin Depot is considered one of the largest players.
Market Dynamics
Industry Overview
The cryptocurrency ATM industry is part of the broader digital asset and fintech landscape. It is characterized by rapid growth, evolving regulatory scrutiny, and increasing competition. The demand for physical on-ramps and off-ramps for cryptocurrencies remains strong, especially in regions where digital banking penetration is lower or for users who prefer cash transactions.
Positioning
Bitcoin Depot positions itself as a leader in the US Bitcoin ATM market by focusing on network size, ease of use, and strategic location of its ATMs. Its competitive advantage lies in its established infrastructure and partnerships, enabling widespread accessibility.
Total Addressable Market (TAM)
The total addressable market for cryptocurrency ATMs is significant and growing, driven by the increasing adoption of digital assets globally. While specific TAM figures for Bitcoin ATMs vary, it represents a substantial portion of the broader crypto on-ramp market. Bitcoin Depot is well-positioned to capture a significant share of this market due to its extensive network.
Upturn SWOT Analysis
Strengths
- Extensive Bitcoin ATM network across the US
- User-friendly interface and transaction process
- Experienced leadership team
- Strategic partnerships for ATM placement
Weaknesses
- Dependence on physical ATM infrastructure
- Relatively high transaction fees compared to online exchanges
- Brand awareness compared to larger fintech companies
- Limited product diversification beyond ATM services
Opportunities
- Expansion into new geographical markets
- Introduction of new cryptocurrency support at ATMs
- Partnerships with traditional financial institutions
- Leveraging blockchain technology for enhanced services
Threats
- Increasing regulatory scrutiny of cryptocurrency and ATMs
- Competition from online exchanges and P2P platforms
- Security risks and potential for fraud
- Volatility of cryptocurrency prices impacting demand
- Technological advancements making ATMs obsolete
Competitors and Market Share
Key Competitors
- Coinflip (COFL)
- Coinme (private)
- Bitstop (private)
Competitive Landscape
Bitcoin Depot benefits from its large network size and established presence. However, competitors like Coinflip are also rapidly expanding. Coinme, through its partnership with Coinstar, offers a different distribution model, reaching a wider audience through retail locations. Bitcoin Depot's advantage lies in its dedicated focus on crypto transactions and potentially lower fees on certain transactions compared to integrated retail solutions.
Growth Trajectory and Initiatives
Historical Growth: Bitcoin Depot has demonstrated significant historical growth through the rapid expansion of its Bitcoin ATM network and increasing transaction volumes.
Future Projections: Future projections are not publicly available. However, growth is expected to be driven by increasing cryptocurrency adoption and potential expansion into new services or markets.
Recent Initiatives: Recent initiatives likely focus on expanding ATM placements, optimizing operational efficiency, and potentially exploring partnerships to enhance user experience and accessibility.
Summary
Bitcoin Depot Inc. is a significant player in the US Bitcoin ATM market, demonstrating strong historical growth through network expansion. Its core strength lies in its extensive ATM footprint and user-friendly service. However, the company faces threats from increasing regulation and competition from online exchanges, and its growth may be constrained by its reliance on physical infrastructure and its privately held status limiting public financial scrutiny. Further diversification and strategic partnerships could mitigate these risks.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company website (Bitcoin Depot Inc.)
- Industry reports on cryptocurrency ATMs
- Financial news articles
- Market analysis of the cryptocurrency sector
Disclaimers:
This analysis is based on publicly available information and general industry knowledge. As Bitcoin Depot Inc. is a privately held company, detailed financial information is not accessible, which may limit the depth of the financial performance analysis. Market share data for cryptocurrency ATMs is often estimated and can vary between sources. This information is for informational purposes only and should not be considered financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Bitcoin Depot Inc.
Exchange NASDAQ | Headquaters Atlanta, GA, United States | ||
IPO Launch date 2023-07-03 | CEO - | ||
Sector Financial Services | Industry Capital Markets | Full time employees 126 | Website https://bitcoindepot.com |
Full time employees 126 | Website https://bitcoindepot.com | ||
Bitcoin Depot Inc. owns and operates a network of bitcoin ATMs in North America and Hong Kong. Its customers can buy and sell bitcoin through its kiosks in various retail locations, such as convenience stores and gas station chains; pharmacies and grocers; and mall operators. The company also sells cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering, as well as its website. The company was founded in 2016 and is headquartered in Atlanta, Georgia.
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