The global number of Bitcoin (BTC) ATMs has increased dramatically, reaching a new high of over 35,000 active machines for the first time this year.
According to recent data produced by Coin ATM Radar, this significant increase follows a period of stagnation in which the number of ATMs has remained below 34,000 since March.
A Brief Recession in Bitcoin ATMs
Additionally, an earlier report revealed that the overall number of functioning ATMs in April fell to 33,389, indicating a brief decline in the sector.
Notably, this decline could be attributed to various factors, including market fluctuations, regulatory changes, or temporary adjustments by ATM operators. However, the subsequent surge indicates the resilience and upward trajectory of the Bitcoin ATM industry.
Furthermore, when comparing the recent data to that of December 2022, when the number of ATMs surpassed 39,000, a decline is evident despite an increase in the price of Bitcoin at that time. Markedly, about 3,600 Bitcoin ATMs were unplugged globally in March alone.
A Revival of Growth
However, the recent data shows a reversal of the downward trajectory in Bitcoin ATM numbers. Specifically, an increase of almost 1400 machines was recorded in May, with an additional 278 in the first few days of June.
Notably, this surge shows a renewed interest in and adoption of Bitcoin as individuals and businesses recognize the potential of crypto. BTC ATMs have grown in popularity because of their ease, speed, and user-friendliness. They are a realistic solution for individuals seeking rapid access to Bitcoin without the complexities of regular exchanges.
The Spread of Bitcoin ATM Across Jurisdictions
According to the global distribution of BTC ATMs, the United States has a large lead with over 30,000 ATMs placed within its borders. It is worth noting that this astounding figure represents more than 85% of all Bitcoin ATMs in operation worldwide.
Also, Canada stands as the only other country surpassing 1,000 Bitcoin ATMs, with approximately 2,745 machines installed. Interestingly, while Canada’s number is significantly lower than that of the United States, it still demonstrates a noteworthy presence of Bitcoin ATMs within the country.
Meanwhile, Europe ranks second with roughly 1,400 ATMs installed across the continent. Spain leads the list within Europe with 286 BTC ATMs. On the other hand, the United Kingdom, despite being a financial center in the region, has a relatively low number of BTC ATMs installed, with only 16 machines