US Holds 82% of Global Bitcoin ATMs, Europe Struggles with 4%

As of 2024, North America dominates the global Bitcoin ATM market. According to Stocklytics.com, the US accounts for 82% of the global Bitcoin ATM tally, while Europe accounts for a mere 4%.

The site’s financial analyst, Edith Reads, comments:

Early adoption of Bitcoin in the US has allowed these Bitcoin companies to grow their infrastructure and set up Bitcoin machines all over the country. Besides, the country’s diverse population creates a substantial market for Bitcoin ATMs, driven by both consumer interest in digital currencies and the desire for convenient access to cryptocurrency transactions.

Edith Reads

Global Bitcoin ATM Tally

As of August 1, 2022, there were 39,803 Bitcoin ATMs worldwide. However, this number dropped by over 15% to 33,302 by August 2023. Entering 2024, the number of Bitcoin ATMs rebounded by more than 15% year-over-year, reaching 38,457 at the start of August. As of August 21, 2024, the global total has further increased to 38,727, marking a 0.7% rise in just three weeks.

The number of Bitcoin ATMs in the US has risen significantly. At the beginning of August, there were 27,590 ATMs, representing a year-over-year increase of over 15%. The current tally for the US stands at 31,897. In contrast, Europe holds only 1,592 Bitcoin ATMs, while Australia has approximately 1,149, bringing it close to Europe’s total. Canada has also seen substantial growth, with at least 2,985 Bitcoin kiosks.

US BTM Market Declines

While the United States accounts for the most BTMs globally, its ATM growth streak broke towards the end of May and persisted until July. As of May 21, the U.S. market lost 302 Bitcoin ATMs during the month, and by June 1, the total number of BTMs in the US was down to 32372 from 32414 on May 1st.

On July 1st, the tally declined further to 31955, less by 417 from the previous month, and by August 1st, the numbers were down by another 249 BTMs from July.

US law enforcement agencies have recently shut down numerous Bitcoin ATMs due to issues related to extortion and scams. However, the exact causes of the recent sharp decline in the number of machines remain unclear. Despite this, Bitcoin Depot, the largest ATM operator in the US, continues to perform well in 2024, reporting steady earnings throughout the year.

Bitcoin Depot CEO Brandon Mintz said, “We plan to expand aggressively in kiosk count in 2024 to attempt to gain significant market share.” 

Bitcoin Depot projects they’ll install over 8000 BTMS by 2024’s end.