Australia’s Bitcoin ATMs Surge Seventeenfold

Australia ranks third globally in the number of installed crypto ATMs, boasting 1,162 units. Over the past two years, this figure has increased seventeenfold, according to Coin ATM Radar.

In 2022, there were only 67 Bitcoin ATMs.

According to TRM Labs, local authorities have identified this segment as vulnerable to money laundering. Analysts report that since 2019, crypto ATMs have processed illicit transactions amounting to at least $160 million.

The United States maintains an undisputed lead in Bitcoin ATM installations, with 31,877 devices (82.3%). Canada holds the second spot with 7.8% (3,004), while Australia accounts for 3%.

As of August 30, the total number of crypto ATMs worldwide reached 38,747.

Among operators, Bitcoin Depot holds the largest market share with 8,488 crypto ATMs, or 21.9% of the total.

In January, Bitcoin Depot CEO Brandon Mintz predicted an acceleration in ATM installations following the halving. However, after a record April with 716 new devices, May saw a reduction of 115, and June recorded a modest 377 ATMs deployed.

In August, BaFin seized 13 cryptocurrency ATMs operating without necessary permits during a raid in major cities.

A similar operation was previously conducted in London.