Today’s Stock: The Bitcoin Depot (BTM)Today’s Stock: The Bitcoin Depot (BTM)

Bitcoin Depot Inc. owns and operates a network of bitcoin ATMs in North America and Hong Kong. Its customers can buy and sell bitcoin through its kiosks in various retail locations, such as convenience stores and gas station chains; pharmacies and grocers; and mall operators. The company also sells cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering, as well as its website.

The company was founded in 2016 and is headquartered in Atlanta, Georgia.

My Thoughts 💭My Thoughts 💭

On the hunt for bitcoin companies offering bitcoin services I heard about this company going public I think through coin center. To help with the cause I bought some shares but I sold them when I got into a liquidity pinch. Now it’s time for me to make a decision should I rebuy the small bag I had of this company? Let’s find out!

At 1.4k sats per share ($92,927), and no dividend. One must ask will this growth stock grow faster than bitcoin? It is quite possible. Bitcoin ATMs and other exchange services can grow to mass appeal and if this company executes on its plan paying 1.4k sats today may be a good investment as this company can grow a cash balance fast than the bitcoin network can over the next 10-20 years.

The company trades at a PE 10 which means investors are paying $10 to access $1 of earnings. This stock is cheap. At this rate (minus discounted cash flows) an investor can expect a return on their investment in about 10 years.

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The fundamentals of this company meh to bad.

The balance sheet is absolutely disgusting. They are using a lot of leverage to get things started but they are profitable.

But I understand why the market is pricing this company to go bankrupt. The profit margin is razor thin plus bitcoin ATMs are were a lot of elderly are getting scammed (happened to an elder in my own neighborhood) thus they could be a target for more regulatory action.

With that said the risk reward on this stock is pretty good. I blow at least 50k sats a week on SN so spending 25k or 100k sats on this company won’t be so bad.

Plus they hold 100+ BTC on their balance sheet. If the bitcoin grows above their debt and they can improve their operations and bitcoin gets more mainstream where more people are using bitcoin ATMs and not regular banking ATMs to get cash then this company will have a head start in this sector.

Over the years investors have gotten destroyed in fiat terms.

But in bitcoin terms they actually gained some sats per share.

When I did own shares the stock ran up I think towards the end of 2024 but then it gave back all its gains in 2025. I felt bad dumped shares at the wrong time but then again I wouldn’t have sold during that pump anyways since I am a long term investor.

Analysts are expecting this business to shrink by 60%+ over the next few years which explains the low share price.

Another headwind with this stock is the amount of the float that is still held by insiders. Are they holding because they believe in the business or are they looking for fools like me to be exit liquidity? Only time will tell.

The leadership board is young and the CEO compensation is reasonable. Which is a plus.

If I were to make a significant investment in this company (1M sats or more) I would need to do more research and listen to the calls so I can understand how they plan to grow the business support bitcoin and pay down that ugly debt.

But since they are working towards bitcoin adoption in meatspace with cash I will support their operation and start to buy a position. maybe once I get 1k shares I’ll give it a rest.

With this company headquartered in Atlanta we gotta get them to TABCONF!