NEW DELHI: The number of Bitcoin ATMs has plunged by nearly 7,000 to date, even after witnessing a fresh start by the crypto world in 2023, a new report revealed. After reaching an all-time high of over 39,100 in December 2022, the number of Bitcoin ATMs has been continually falling over the past ten months.
The CoinATMRadar data showed more than 1,500 ATMs supporting digital coins were removed in January, revealing the first signs of a negative trend.
March saw an even bigger drop, with the number of Bitcoin ATMs falling by nearly 3,600 that month alone. After more than 2,300 new machines were added to the global Bitcoin ATM network in May and June — July brought the worst drop in 2023, the report said. As per the statistics, more than 4,000 Bitcoin ATMs were removed in July alone, the highest number in the market’s history.