The acquisition was pre-planned and became part of the companies' overall strategy to seek synergy between regional players in the ATM market.
The deal brings the number of machines operated by RockItCoin to over 1,900 across 44 US states. According to RockItCoin President Ben Phillips, changes in the cryptocurrency market and the rapid growth of operating costs are becoming an unbearable burden for small players. At the same time, larger regional operators are getting an opportunity to scale their networks through M&A.
The head of RockItCoin said that as the ATM industry shows a readiness for consolidation, in the coming months the company is likely to absorb more and more new market participants.
Experts predict that over the next five years, the capitalization of the global cryptocurrency ATM market may exceed half a billion dollars. According to a report from Research and Markets, the industry is expected to have a compound annual growth rate of around 59% from 2022 to 2027, driven by the expansion of incumbent networks and growth in the emerging market.
In early October, the Miami FBI department announced that ATMs were becoming a popular vehicle for scammers to get money from defrauded victims.
Russian 
English 
Polish