Cryptocurrency ATM company Bitcoin Depot achieved $197.5 million in revenue in the second quarter, a year-on-year increase of 18%

ChainCatcher news, according to Cointelegraph, cryptocurrency ATM company Bitcoin Depot achieved a revenue of $197.5 million in the second quarter of 2023, an increase of 18% year-over-year. Bitcoin Depot plans to increase the number of Bitcoin ATMs after its listing on Nasdaq to expand its market share.

The company also reported a net loss of $6.1 million, a decrease of 249% year-over-year. The profit for the second quarter was $25.9 million, while the gross margin for the second quarter of 2023 was 13%, up from 8% in the same period last year.