ATLANTA — Fintech company Bitcoin Depot Inc. entered into separate retail partnerships with two large convenience retailers, one of which includes an extensive international network of locations across a portfolio of many brands.
Beginning in the first quarter of 2024, the company will install roughly 940 Bitcoin Depot kiosks (BTMs) in convenience store locations of one of the retailers across 24 states, part of an initial rollout and initiative that provides the opportunity to grow into additional stores beyond the initial 940.
[Read more: Bitcoin Depot Adds 400 C-stores to Retail Footprint]
Sixty-three additional BTMs will be installed in the second retailer's locations across multiple metropolitan areas. This particular expansion should allow customers to purchase Bitcoin in easy and accessible c-store locations across the South where a variety of additional amenities are available.
The deal will also provide access to additional Bitcoin Depot kiosks in the following states: Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia.
Bitcoin Depot believes both partnerships will augment its comprehensive growth plan, which focuses on increasing its BTM network and continuing to build a robust pipeline of major regional and national retail partners.
"This expansion aligns with our commitment to bringing Bitcoin to the masses," said Bitcoin Depot CEO Brandon Mintz. "Our goal is to bring easy and convenient crypto access to a plethora of communities while creating unmatched value for our retail partners and welcoming new customers."
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Founded in 2016, Bitcoin Depot connects those who prefer to use cash to the broader, digital financial system. The company provides its customers with simple and efficient means of converting cash into Bitcoin, which users can then deploy in the payments, spending and investing space. Bitcoin Depot kiosks are available in 48 states, with the BDCheckout product accessible at thousands of name-brand retail locations in 28 states.