Leading crypto ATM operator Bitcoin Depot has reiterated its plans to merge with GSR II Meteora Acquisition, a $321 million SPAC.
The deal is valued at $885 million.
The filing with the SEC also included the crypto ATM operator’s financial report for the third quarter that ended Sept. 30. Bitcoin Depot reported revenue of $497.2 million, marking an increase of 25% YoY, Investing.com reports.
“Bitcoin Depot’s momentum continued through the third quarter as we delivered record year-to-date revenue growth despite the turmoil in the broader crypto market, reinforcing our mission to safely, securely, and efficiently bring crypto to the masses,” said Brandon Mintz, CEO and founder of the firm.
Once it goes public, Bitcoin Depot will list on the Nasdaq under the ticker symbol BTM. The deal is expected to conclude in the first quarter of 2023.
Bitcoin Depot currently operates over 7,000 crypto ATMs across 47 states in the United States. With a nearly 20% market share, the firm is currently the largest Bitcoin ATM operator in North America. Read more.
