Bitcoin Depot is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $855 million SPAC deal.
Bitcoin Depot is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $855 million SPAC deal.
- Bitcoin Depot is set to become a publicly-traded company on the Nasdaq under ticker symbol BTM.
- The bitcoin ATM firm currently operates over 7,000 ATMs across the U.S.
- The company will list through a SPAC deal worth $855 million with GSRM.
Bitcoin Depot, the world’s largest provider of bitcoin ATMs according to data from Coin ATM Radar[1], will go public on the Nasdaq through an $885 million deal with a special-purpose acquisition company (SPAC), according to a Thursday press release[2].
Bitcoin Depot currently boasts a fleet of over 7,000 ATMs across North America which allow customers to conveniently convert fiat into bitcoin and other cryptocurrencies.
Upon the completion of the acquisition, which is expected to close in the first quarter of 2023,
Bitcoin Depot[3] will merge with GSR II Meteora Acquisition Corp[4] (GSRM) to become Bitcoin Depot Inc. and trade under ticker symbol BTM on the Nasdaq U.S. stock exchange.
“We are always looking to expand our reach so as many people as possible can access cryptocurrency to control their own money and conduct easier and simpler financial transactions,” said Brandon Mintz, CEO and founder of Bitcoin Depot, per the release.
According to the release, Bitcoin Depot has generated over $623 million in revenue in the past 12 months with a net income of over $6 million. While the company’s Bitcoin ATMs already permeate over 40% of the U.S. population across its 7,000 locations, the release details that the company has
