Odaily Planet Daily News Bitcoin Depot announced its second-quarter results. Quarterly revenue was US$197.5 million, an increase of 18% over the same period in 2022, and a net loss of US$6.1 million, a year-on-year decrease of 249%. Its second-quarter profit was $25.9 million, and its gross margin in the second quarter of 2023 was 13%, up from 8% in the same period last year.
Bitcoin Depot is building out the BD Checkout service, along with other software and operational services, which will enable the company to generate revenue from its kiosk management software.
The company expects total revenue of $730 million in 2023, a 13% increase from 2022 total revenue of $647 million. (cointelegraph)