Global Bitcoin ATM Installation Shoots Past 24,000 In 2021: Report

This year has seen a sharp increase in the number of crypto automated teller machines (ATMs) installed worldwide. Data from Coin ATM Radar shows that crypto ATM installation has increased by more than 70% to over 24,000 this year.

Over 10,000 Crypto ATMs Installed In 2021

No less than 10,000 new crypto ATMs have been installed this year alone, surpassing the 7,620 added in 2020, per Coin ATM Radar. These crypto ATMs are being installed at a speed of roughly 52.3 ATMs per day.

At press time, the crypto ATM tracker reported a total of 24,004 crypto ATMs globally. This represents a 71.73% growth from the 13,993 crypto machines earlier this year.

The US takes the lead for the country with the most installations, according to the report. There are over 21,161 ATMs in the US alone. Canada closely follows the US with 1,698 locations and the UK with 174 locations.

In terms of the manufacturers of the mahines, Genesis Coin tops the list with a total of 9,813 machines installed. This is closely followed by General Bytes with 5,720, Bitaccess with 2,766, and Coinsource with 1,684 machines.

The ATMs are operated by more than 600 different companies. Bitcoin Depot controls the market with about 15.8% market share.

Crypto ATM Operators Sealing Partnership Deals

Earlier this year, Bitcoin Depot started its expansion plans when it launched 115 kiosks across 24 US states, including Alabama, Minnesota, Florida, and California.

Bitcoin Depot has continued to grow its reach. Just last week, the crypto ATM operator sealed a partnership with convenience store chain Circle K.

Through this collaboration, Bitcoin Depot plans to expand its ATMs by installing over 6,000 kiosks across North America by the end of 2021.The partnership has resulted in the installation of more than 700 Bitcoin ATMs in the US and Canada.

Other operators like Coin Cloud and CoinFlip have also signed partnerships with celebrities to boost their operations. Coin Cloud partnered with Oscar-winning filmmaker Spike Lee to promote cryptocurrency ATMs in an ad campaign.

The multimillion-dollar media campaign was tagged “The Currency of Currency” and was directed by Lee.

Last month, Coinflip also partnered with actor and bitcoin investor Neil Patrick Harris on a marketing campaign. The campaign titled “So Flippin’ Easy,” was aimed at promoting cryptocurrency investing.

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Author: Jimmy Aki

More than 2,100 Bitcoin Mining Machines Auctioned by Chinese Local Court

More than 2,100 Bitcoin Mining Machines Auctioned by Chinese Local Court

Chinese local court has auctioned 2100 government seized Bitcoin mining machines.

The mining machine models on auction involved S9, S7, V9, T9+, Avalon 851, Avalon 6.01. of which there are more than 450 S9 units. These machines were seized from miners who were caught stealing electricity to mine Bitcoin and have been sentenced to up to 13 years in jail for that.

All the BTC seized were paid to the electricity company as compensation, reported cnLedger.

As for the mining machines, they were auctioned with a reserve price of only about 10,000 yuan ($15,000 USD) with a deposit of 2,000 yuan, and a price increase of 200 yuan.

The final price has been 702,600 yuan (about $108,850 USD) with hundreds of bidders looking to get their hands on the machines.

“The batch of mining machines has many models and different colors. It is not sure whether it can be used,” reads the rough translation of the special statement. It further says the bidder can see the samples on the spot with no guarantee from the court and “the buyer shall pick up the relevant items by himself at his own expense.”

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Author: AnTy

IGT Gets Regulatory Approval to Use Bitcoin & Crypto’s at Slot Machines

The world’s largest slot machines’ maker, International Game Technology Plc, is looking at offering cryptocurrency as a payment option on its casino games like Wheel of Fortune and Megabucks.

It has been only last year that the Nevada Gaming Commission made it easier for casinos to introduce cashless systems and now IGT has gained regulatory approval for using cashless wallets on slot machines.

The company received a patent this week for the means to transfer crypto between a player’s account on the gaming-establishment and an external crypto account, reported Bloomberg.

This would allow players to move BTC and other crypto assets into their digital wallets on a slot machine through their phones. Company spokesman Phil O’Shaughnessy said,

“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency.”

Going the crypto route certainly makes sense especially to attract the younger gamblers. According to IGT, a third of guests at Caesars Palace in Las Vegas are between the ages of 21 and 40.

Now that Bitcoin, Ethereum, and other altcoins prices have started rallying like crazy, everyone wants a taste of cryptocurrencies.

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Author: AnTy

Miner Maker Canaan Q2 Report Reveals 160% Revenue Increase But The Still At a Net Loss

Canaan, one of the leading manufacturers of bitcoin mining machines, has released an unaudited financial report for the second quarter of 2020. The information that was released on August 31st suggested a profitable quarter and even a gross profit for a year over year. However, the firm is still at a net loss, despite two profitable quarters. The net loss stems from those incurred over 2019.

Canaan also conducted its IPO last year in November with a target fund of $400 million, out of which the bitcoin mining rig manufacturer raised 25% of the target amount. The outbreak of the pandemic had quite an adverse effect on the company’s share price, which is currently valued at $2.19, down by almost 75% from its public sale price of $9.

The unaudited report also revealed that the company sold about 2.6 million THash/s worth of computing power for the ASIC mining machine in the second quarter. The amount of hash-power sold by the company has nearly tripled from the first quarter’s figure of 0.90 million THash/s. As an added note, the sales figures for this quarter have dropped by 18% from the last year.

The revenue generated by the company in the second quarter stood at RMB 178.1 million ($25.2 million), which is also up by 160% compared to the first quarter, but declined by 25% when compared to the last year.

The gross profit generated by the company in this quarter stood at RMB 43.3 million, equivalent to $6.1 million, seeing an increase of almost 300% year on year, and over 1,700% when compared to Q1.

The gross margin has seen a significant bump in all parameters, where it was up by 25% when compared to last quarter against just 4.2% in 2019.

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Author: Hank Klinger

Bitmain Launches New AntMiner S19 Series Mining Rigs In Preparation Of BTC Halving

  • Bitmain, one of the largest manufacturers of Bitcoin (BTC) mining equipment, is launching its most powerful machines before the BTC halving that’s about to take place in under 3 months.

Bitmain announced on Thursday the launch of AntMiner S19 and S19 Pro, both models with a power of 110 TH/s and consuming 29.5 W/TH. According to the specifications provided by the company, S19 and S19 Pro are the most profitable mining devices for BTC, with MicroBT’s WhatsMiner M30S following closely behind.

Bitmain and MicroBT in a Fierce Competition

Bitmain’s launches come after a long-standing battle with competitor, MicroBT. MicroBT had gained a large portion of the market in 2019 after selling 600,000 M20 series units. They also launched their M30 models back in December, and have already begun taking orders for this next powerful product that will be delivered in March 2020.

According to Pangolin Miner, the biggest distributor for MicroBT, the M30S costs $2,430 and has an 86 TH/s power, consuming 38W/T. Some of the M30Ss will be delivered from March until May, with larger orders being shipped in June.

Bitmain Antminer S19 Details

Bitmain’s S19s and the Antminer S19 Pro miners’ costs have yet to be announced by the company. Industry reactions to are better yet more expensive equipment remains to be seen, as the BTC went down from its most recent growth of above $10,000. At the moment, the AntMiner S9 from Bitmain is the most widely used miner and can generate daily around 30% at BTC’s current price.

Antminer S19 Pro 110THs

Antminer S19 Pro 110TH/s Product Breakdown:

  • Algorithm/Coins= SHA256 for BTC / BCH
  • Hashrate = 110 TH/s
  • Watt = 3250±5%
  • Power Efficiency = 29.5±5%
  • Network Connection = RJ45 Ethernet 10/100M
  • Size: 370mm x 195.5mm x 290mm
  • Gross Weight = 15.3 kg
  • Ship Date: TBD
  • Price: TBD

Antminer S19 95THs

Antminer S19 95TH/s Product Breakdown:

  • Algorithm/Coins= SHA256 for BTC / BCH
  • Hashrate = 95 TH/s
  • Watt = 3250±5%
  • Power Efficiency = 34.5±5%
  • Network Connection = RJ45 Ethernet 10/100M
  • Size: 400mm x 195.5mm x 290mm
  • Gross Weight = 16.5 kg
  • Ship Date: TBD
  • Price: TBD

Development of Chinese Mining Facilities Stopped by Coronavirus Outbreak

The coronavirus outbreak has led the logistics and manufacturing businesses in China to delay their activity, so mining facilities couldn’t expand or make upgrades. As a matter of fact, data from BTC.com reveals that the difficulty of mining for BTC has been stagnated for almost a now, staying at the same level since January 28.

However, the BTC halving is approaching, so the mining rewards on the network will be reduced from 12.5 BTC to 6.25 BTC per block, which means AntMiner S9s and other older mining machines will no longer be profitable if BTC prices don’t greatly increase. As a result, miners will need to make an upgrade to their mining equipment, or consider dropping out of BTC mining altogether.

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Author: Oana Ularu