Bitcoin Depot is a publicly traded cryptocurrency company that operates a network of Bitcoin ATMs (BTMs) and provides related financial services. ^{[1] [2]}

The company is the largest Bitcoin ATM operator in North America and positions itself as a bridge between cash and digital currencies with the slogan "Bringing Bitcoin to the Masses®". ^{[1] [2]}

Headquartered in Atlanta, Georgia, Bitcoin Depot is listed on the NASDAQ stock exchange under the ticker symbol BTM. ^[1]​

History

Bitcoin Depot was founded in 2016 by Brandon Mintz. ^[1] The company grew to become the largest operator of Bitcoin ATMs in North America, establishing a presence in the United States, Canada, and Australia. ^{[1] [2]}​

In August 2025, the company appointed Alex Holmes, the former CEO and Chairman of MoneyGram, to its board of directors. ^[2]

A period of significant leadership transition began in late 2025. Founder Brandon Mintz departed as CEO on December 5, 2025, amidst what was reported as a wider regulatory crackdown on the crypto ATM industry. ^{[1] [2]}

Scott Buchanan, who had been with the company since 2019, was appointed CEO in late 2025 or early 2026. ^[2]​

March 2026 marked a period of significant upheaval for the company, characterized by further leadership changes and regulatory challenges. Scott Buchanan resigned as CEO and director after serving in the top role for less than three months.

Concurrently, Alex Holmes was appointed as the new CEO and Chairman, while founder Brandon Mintz stepped down as executive chairman to serve as a board member and advisor to the new CEO. These changes occurred as the company faced increasing regulatory pressure, including the suspension of its license in Connecticut. ^[2]​

Products and Services

Bitcoin Depot offers several services for consumers to purchase cryptocurrency, primarily through physical locations, as well as programs for business partners.

The company operates on a non-custodial model, meaning cryptocurrency is sent directly to the user's personal digital wallet upon purchase and is not held by Bitcoin Depot. ^[1]​

Consumer Services

• Bitcoin ATMs (BTMs): The company's core product is its network of physical kiosks, which allow users to purchase Bitcoin and other cryptocurrencies using cash. Bitcoin Depot claims to operate the largest network of such machines globally, with over 9,000 locations. The company also notes a figure of "over 8,000" machines in some website sections. The ATM network spans the United States, Canada, and Australia. ^{[1] [2]}
• BDCheckout™: This service enables users to add cash to their Bitcoin Depot accounts at the checkout counters of participating retail stores. The network for this service includes over 7,700 locations. When combining its BTMs and BDCheckout partners, the company advertises a total of over 22,000 service locations. ^[1]
• Buy Online: Bitcoin Depot provides a web-based portal for purchasing cryptocurrency with a debit or credit card. This service is facilitated through partnerships with third-party providers such as Banxa and Simplex. ^[1]
• OTC Purchases: For high-volume transactions, the company offers an Over-the-Counter (OTC) service that provides specialized, "white-glove execution" for large Bitcoin purchases. ^[1]

Business and Partnership Programs

Bitcoin Depot offers programs for businesses and individuals to partner with the company:

• Host a BTM: Retail businesses can earn passive income by hosting a Bitcoin Depot ATM at their location.
• Distributor Program: Individuals can partner with Bitcoin Depot to place BTMs in new business locations.
• Operator Services: The company provides a program for individuals or entities who wish to become Bitcoin ATM operators themselves. ^[1]

Technical Features

• Mobile Application: The company offers a mobile app that serves as a non-custodial digital wallet for managing crypto assets. The app also includes a locator feature to find nearby Bitcoin Depot ATMs and BDCheckout locations.
• Customer Support: Live customer support is available through phone, online chat, and text messaging.
• Regulatory Identifiers: The company is registered as a Money Services Business (MSB) with FinCEN (MSB #31000323474501) and holds an NMLS ID (#1886902). ^[1]

Corporate Affairs and Leadership

Recent years have seen significant changes in Bitcoin Depot's leadership structure, coinciding with increased regulatory scrutiny of the crypto ATM industry. ^[2]​

Key Figures

• Brandon Mintz: The founder of Bitcoin Depot in 2016. Mintz served as CEO until December 2025 and subsequently as executive chairman. In March 2026, he stepped down from the executive chairman role but remained on the company's six-member board to advise the new CEO. ^{[1] [2]}
• Alex Holmes: Appointed CEO and Chairman of the Board in March 2026. Holmes previously served as CEO and Chairman of the financial services company MoneyGram from 2016 to 2024. He first joined the Bitcoin Depot board of directors in August 2025. Upon his appointment as CEO, Holmes stated his priorities were "operational stability, regulatory progress," and evolving Bitcoin Depot into a "more diversified fintech platform." ^[2]
• Scott Buchanan: A former CEO and director. Buchanan joined Bitcoin Depot in 2019 and was appointed CEO in late 2025 or early 2026, following founder Brandon Mintz's departure from the role. He served as CEO for less than three months before resigning in March 2026. A company filing noted that his resignation was not due to any disagreement over the company's operations, policies, or practices. ^[2]

Regulatory Issues and Market Performance

Bitcoin Depot has faced significant regulatory challenges, which have impacted its operations and financial standing. The company's leadership transitions in 2025 and 2026 occurred within the context of a "broader crypto ATM crackdown" and what the company described as a "dynamic regulatory environment." ^[2]​

Connecticut License Suspension

In March 2026, financial regulators in the state of Connecticut summarily suspended Bitcoin Depot's money-transmission license. This action required the company to immediately cease all operations in the state. The suspension was based on several allegations made by the regulators, including:

• Charging fees to kiosk users that were in excess of the state's 15% cap.
• Failing to provide full refunds to some victims of fraud who used the company's services.
• Failure to adhere to other disclosure and compliance requirements. ^[2]

Financial Outlook and Stock Performance

In March 2026, Bitcoin Depot issued a warning to investors, stating that its core revenue could decrease by 30% to 40% in the current year. The company attributed this projected decline to the "dynamic regulatory environment and enhanced compliance standards" it was facing. ^[2]​

The company's stock performance reflected these challenges. On March 25, 2026, following the news of the leadership changes and regulatory issues, shares of Bitcoin Depot (NASDAQ: BTM) fell by more than 14% to $2.80. This price point was noted as being near the stock's lowest point over the preceding year. ^[2]​