Bitcoin Depot reports Q3 revenue $135.5M, consensus $135.81M

“During the third quarter, we made significant strides in expanding our Bitcoin ATM network while working to optimize existing machines for greater profitability,” said Brandon Mintz, CEO and Founder of Bitcoin Depot (BTM). “We ended the quarter with 8,300 machines, surpassing our goals and reflecting our team’s execution and vision to enhance Bitcoin’s accessibility. In the past year, we’ve focused on relocating underperforming BTMs to more promising locations, a strategy that historically boosts average profitability per kiosk over time. While this improvement may not be fully visible in our consolidated quarterly numbers, the strategy is proving effective. With our extensive kiosk footprint and these initiatives in place, we are confident in our ability to drive shareholder value moving forward. As a result of our continued cash flow generation, we believe that beginning a cash dividend to common shareholders in 2025 will be one of the ways we create value for shareholders.”