Bitcoin Depot acquires the assets of regional bitcoin ATM operator, Instant Coin Bank:
Bitcoin Depot (BTM) on Tuesday said it has acquired the assets of Instant Coin Bank, a regional Bitcoin ATM operator with locations across Texas and Oklahoma, expanding its footprint in the south-central United States.
The company said Instant Coin Bank’s ATM network will be integrated into Bitcoin Depot’s platform in the coming weeks, with locations transitioning to Bitcoin Depot branding and no expected service disruption for customers.
Existing machines will retain their core functionality while gaining access to Bitcoin Depot’s 24/7 customer support, compliance program and technology systems.
Bitcoin Depot said the acquisition supports its strategy of consolidating the fragmented Bitcoin ATM market and strengthening its presence in Texas and surrounding states.
Financial terms of the transaction were not disclosed.
BTM -2.91% premarket to $1.33.
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