On June 30, bitcoin ATM operator Bitcoin Depot announced the closing of a deal to merge with SPAC GSR II Meteora Acquisition Corp. This is stated in the press release.
The deal amounted to $885 million. The company will be renamed Bitcoin Depot.Inc and will be led by the existing management team. Shares and public warrants under the tickers BTM and BTMWW, respectively, will begin trading on the Nasdaq on July 3rd.
“Bitcoin Depot is well positioned with the largest market share in North America and the additional capital from this transaction will help support our growth opportunities while advancing our mission to safely and securely bring Bitcoin to the masses.”— said Bitcoin Depot CEO Brandon Mintz.
Bitcoin Depot was founded in 2016. According to the Coin ATM Radar service, the company currently operates 6381 devices worldwide (17.6% of the total number of bitcoin ATMs). Of these, 6166 are in the US.
In June, it became known that the number of cryptocurrency ATMs around the world increased to 35,065 units. The United States remains the leader in the number of installed bitcoin-ATMs – 30,014 (84.7%). On the second line of the ranking is Canada with 2740 units or 7.6% of the total. In third place is Australia – 463 (1.3%).
In February 2023, Bitcoin ATM operator Coin Cloud filed for bankruptcy. The company’s liabilities to ~10,000 counterparties are estimated in the range from $100 million to $500 million.
Recall that Bitcoin Depot announced plans to obtain a public status in August 2022.
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