Bitcoin ATM net growth plummets globally for the first time

Net crypto ATM install change data confirms that in September, 796 crypto ATMs were removed from the global network. The domino effect of a prolonged bear market seeped into the Bitcoin (BTC) ATM ecosystem as September 2022 saw negative growth in global net installs for the first time in history, mainly due to a slowdown in the United States.

The total number of Bitcoin ATMs installed over time fell to 37,980 in September from an all-time high of 38,776 ATMs in August, resulting in a -2.05% decline, as in evidenced by data from CoinATMRadar.

The number of Bitcoin machines installed over the time. Source: CoinATMRadar

Data on Net Changes in Crypto Vending Machines confirms that in September, 796 crypto vending machines were removed from the global network. The United States alone recorded a reduction of 825 ATMs. However, Europe, Canada and a few other jurisdictions have cushioned the fall with new local installations.

The net change in the number of crypto machines -currency installed and removed monthly. Source: CoinATMRadar

Despite the setback, 60-day-based data suggests nearly 14 crypto ATMs are installed globally every day, with Genesis Coin accounting for a 40.3% share ATMs among other manufacturers. General Bytes and BitAccess are other popular crypto ATM manufacturers.

The sudden reduction in crypto ATM installations can be attributed to geopolitical tensions between several factors, including lack of regulatory clarity and market uncertainties.

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