Software

Bitcoin Depot converts ATMs to BitAccess software

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February 22, 2023

Bitcoin Depot, a bitcoin ATM operator, has converted its 7,000 ATMs to BitAccess Inc.'s bitcoin ATM software. The company acquired a majority equity interest in BitAccess in late 2022, according to a press release.

The software provides operators with white label opportunities and boasts a smaller licensing fee.

"This is the one of the first software conversions of this scale in the industry and a major accomplishment for our company," Brandon Mintz, CEO and founder of Bitcoin Depot, said in the release. "Our vertical integration strengthens our market position and fortifies our value proposition to customers and investors. We're thrilled to see the results of this endeavor streamline our operations, reduce costs, and ultimately benefit our customers."

"We streamlined the process to convert Bitcoin Depot's Bitcoin ATMs to BitAccess software during a testing phase, which allowed us to reduce the software conversion process in the field," Jason Sacco, VP of BTM operations, Bitcoin Depot, said in the release. "By swapping out the existing hard drive with one preloaded with BitAccess software we quickly completed the software conversion while avoiding certain technical issues that can happen in field conversion projects. We efficiently converted approximately the first 6,000 of Bitcoin Depot's Bitcoin ATMs in 10 weeks."