ATMs & Kiosks

Bitcoin Depot converts 7,000 crypto ATMs to BitAccess software

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February 22, 2023

Lux Vending LLC, doing business as Bitcoin Depot, a U.S.-based bitcoin ATM operator, has converted all of its roughly 7,000 kiosks to BitAccess software, according to a press release.

Bitcoin Depot previously announced in late 2022 its acquisition of a majority equity interest in Bitaccess. The conversion integrates Bitcoin Depot's hardware and software, eliminating previous annual software licensing fees which accounted for over $3 million of operating costs during the 12 months ended Sept. 30, 2022.

Bitcoin Depot's majority interest in Bitaccess has enabled Bitcoin Depot to build out its BDCheckout product and its other software and operational capabilities and has expanded its revenue streams into kiosk management software, which includes various systems, transaction processing and cash management.

Bitaccess offers software support not only for Bitcoin Depot's Bitcoin ATMs but can also be deployed in other operators' bitcoin ATMs. The software allows operators white label opportunities and can reduce the number of other software-related vendors needed.