The Mining Pod | Blockspace Media This BTC Business Model is a Quiet Cash Cow w/ Brandon Mintz
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Welcome back to The Mining Pod! Today, Brandon Mintz, CEO of Bitcoin Depot joins Colin to talk about building the largest Bitcoin ATM network in North America with 9,000+ machines. They discuss how the Bitcoin ATM business model works, why someone would buy bitcoin from an ATM rather than an exchange, why Bitcoin ATMs tend to have premiums, and what areas the company may explore for expansion.
**Notes:**
• Bitcoin Depot has 9,000+ ATMs across 3 countries
• Q2 revenue up 6% YoY to $172.1M
• 15% of US transactions still use cash
• 1,700 ATMs ready for deployment
Timestamps:
00::00 Start
03:16 Founding Bitcoin Depot
05:58 The first BTC ATM?
07:14 Current revenue growth
09:52 Establishing an ATM location
11:54 Deciding ATM locations
16:01 Profit sharing w/ locations
17:33 Convincing locations
19:31 Are ATMs not price sensitive?
22:21 Operating expenses
23:26 ATM user profile
25:45 Price premium
28:59 Revenue valuation
31:46 Expansion
32:27 European market
32:59 Treasury strategy
35:20 Treasury company frothy market
36:57 Regulation changes
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