Streetbeat News

BTM

Bitcoin Depot Inc.

https://www.bitcoindepot.com

Industry

Financial - Capital Markets

Bitcoin Depot Inc. owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade. The company was founded in 2016 and is headquartered in Atlanta, Georgia. Bitcoin Depot Inc. is a subsidiary of BT Assets, Inc.

Open

1.72

Mkt cap

31M

Volume

207K

High

1.75

P/E Ratio

-1.53

52-wk high

3.70

Low

1.65

Div yield

N/A

52-wk low

1.33

Bitcoin Depot has identified material weaknesses in its internal control over financial reporting, which have not been remediated as of June 30, 2024. The company has dismissed KPMG LLP as its independent auditor and appointed Wolf & Company, P.C. in its place.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 9:11 pm

HC Wainwright & Co. analyst Mike Colonnese maintains a Buy rating on Bitcoin Depot (NASDAQ:BTM) but lowers the price target from $4 to $3.5.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 9:50 am

Bitcoin Depot (NASDAQ:BTM) reported Q2 sales of $163.10 million, beating the analyst consensus estimate of $149.30 million by 9.24%. However, this represents a 17.41% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 12:23 pm

Bitcoin Depot Inc. (NASDAQ:BTM) has expanded its BDCheckout program to six new states, increasing its footprint to 31 states. This expansion allows more customers to load cash into their Bitcoin Depot digital wallets at major retail partners.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 12:17 pm

Bitcoin Depot Inc. (NASDAQ:BTM) has exceeded its goal of deploying 8,000 Bitcoin ATMs, reaching 8,180 kiosks five months ahead of schedule. This milestone highlights the company's market dominance and rapid growth.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 12:06 pm

Bitcoin Depot is set to sell 200 additional kiosks to Sopris Capital through a profit-sharing program. This move is expected to expand Bitcoin Depot's reach and potentially increase its revenue streams.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:02 pm

Bitcoin Depot has announced plans to allocate its cash reserves to Bitcoin, with future purchases being opportunistic to support growth opportunities. This follows the ASU 2023-08 update, which allows companies to record cryptocurrency gains.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 12:04 pm

Shares of crypto stocks are trading higher in possible reaction to spot Ethereum ETF approval.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:32 pm

HC Wainwright & Co. analyst Mike Colonnese has reiterated a Buy rating on Bitcoin Depot (NASDAQ:BTM), maintaining a $4 price target.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 5:16 pm

Bitcoin Depot reported Q1 sales of $138.539M, surpassing the analyst consensus estimate of $136.377M by 1.59%.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:31 pm

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