{"id":83551,"date":"2024-07-05T11:04:44","date_gmt":"2024-07-05T15:04:44","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83551"},"modified":"2024-07-05T11:04:47","modified_gmt":"2024-07-05T15:04:47","slug":"global-bitcoin-atm-network-decreases-by-334-machines","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/global-bitcoin-atm-network-decreases-by-334-machines\/","title":{"rendered":"Global Bitcoin ATM Network Decreases by 334 Machines"},"content":{"rendered":"\n

In less than 40 days, the global network of active Bitcoin ATMs<\/a> decreased by 334 machines, which coincided with the decline in Bitcoin prices.<\/p>\n\n\n\n

\"Global
Global Bitcoin ATM Network Decreases by 334 Machines <\/figcaption><\/figure>\n\n\n\n

The 107 Bitcoin ATMs offline in June marked the conclusion of a 10-month trajectory of month-on-month increases in net installation. July further incited the reduction. On July 5, 227 crypto ATMs were eliminated from the global network within five days.<\/p>\n\n\n\n

\"Chart
Chart shows the net change of cryptocurrency machines number installed and removed monthly. Source:\u00a0Coin ATM Radar<\/em>\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

The United States and Europe are significant contributors to the global reduction of Bitcoin ATMs, despite countries such as Australia and Spain continuing to expand their Bitcoin ATM footprint. <\/p>\n\n\n\n

The United States, home to approximately 82.6% of the world's total Bitcoin and crypto ATMs, experienced a decrease of 182 ATMs in June and 239 ATMs in the first week of July.<\/p>\n\n\n\n

\"Net
Net change of cryptocurrency machines installed and removed monthly in the United States. Source: Coin ATM Radar<\/figcaption><\/figure>\n\n\n\n

In July, Europe experienced a loss of 29 ATMs, resulting in 1,589 crypto ATMs. Conversely, Australia introduced 77 new Bitcoin ATMs into the global circulation.<\/p>\n\n\n\n

A global crackdown by authorities to curtail financial crimes could be the reason for the ongoing decline in crypto ATMs. The United States Secret Service's Cyber Fraud and Money Laundering Task Force and other authorities have previously conducted investigations into Bitcoin ATM operators and their involvement in cryptocurrency schemes<\/a>.<\/p>\n\n\n\n

According to Bitcoin Depot, the largest ATM operator in the United States, cryptocurrency prices and revenue do not correlate.<\/p>\n\n\n\n

Despite the volatility of Bitcoin prices, the company's revenues in 2023 and 2022, which were $689 million and $647 million, respectively, have not been correlated with the price of Bitcoin.<\/p>\n\n\n\n

The company stated that Bitcoin Depot's year-over-year revenue growth was a mere 6% during the 155% increase in Bitcoin in 2023. According to the ATM operator, the absence of a correlation between Bitcoin Depot's revenues and the BTC price is partially due to the character of the services provided.<\/p>\n\n\n\n

“As per our own user surveys, the majority of our users utilize our products and services for non-speculative purposes, such as money transfers, international remittances, and online purchases, among others,” Bitcoin Depot stated.<\/p>\n","protected":false},"excerpt":{"rendered":"

In less than 40 days, the global network of active Bitcoin ATMs decreased by 334 machines, which coincided with the decline in Bitcoin prices. The 107 Bitcoin ATMs offline in June marked the conclusion of a 10-month trajectory of month-on-month increases in net installation. July further incited the reduction. On July 5, 227 crypto ATMs […]<\/p>\n","protected":false},"author":12,"featured_media":8655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1717,1782,4685,1559],"class_list":["post-83551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-atms","tag-coin-atm-radar","tag-europe","tag-us"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Bitcoin-ATM-operators-set-up-CCC-association-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83551"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8655"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}