Shillong, October 18: The count of Bitcoin ATMs has undergone a significant decline, dropping by nearly 7,000 despite the crypto world’s resurgence in 2023, according to a recent report.
As per IANS, in December 2022, the number of Bitcoin ATMs reached an all-time high, exceeding 39,100. However, this number has steadily decreased over the past ten months, as reported by AltIndex.com.
Data from CoinATMRadar indicated that over 1,500 ATMs supporting digital currencies were removed in January, marking the initial signs of this negative trend. March witnessed an even more substantial drop, with nearly 3,600 Bitcoin ATMs being removed during that month alone.
Despite more than 2,300 new machines being added to the global Bitcoin ATM network in May and June, July brought the most significant decline in 2023. Over 4,000 Bitcoin ATMs were removed in July, marking a historical high in the market.
Following this decline, approximately 500 new Bitcoin ATMs were introduced, but the total number remained around 32,500, a figure last seen in December 2021.
Although the United States boasts the highest number of crypto ATMs, the majority of the removed Bitcoin ATMs this year were from the US market. Last week, US citizens had access to over 26,700 crypto ATMs, down from 34,200 in December 2022.
However, the US still maintains a substantial lead in Bitcoin ATM numbers compared to Europe, which had approximately 1,500 of these machines last week, a figure similar to December.
Asia lags behind in terms of ATMs supporting cryptocurrencies, with fewer than 350, as stated in the report.
When considering manufacturers, General Bytes remains the largest global Bitcoin ATM producer, with a market share of 32.6% in October. Genesis Coin ranks as the second-largest manufacturer with a 22% market share, followed by BitAccess and Bitstop with market shares of 21.3% and 8.3%, respectively.