The Bitcoin ATM operator RockItCoin announced the acquisition of Tao Bitcoin on Oct. 25. Tao Bitcoin is a regional ATM operator with 56 machines, mostly located in the south of the United States.
According to the company, the acquisition was part of they company’s strategy to find value and synergies among smaller and regional players in the Bitcoin ATM space. With the deal, the machines operated by RockItCoin came to almost 1900 across 44 U.S. states.
The Bitcoin ATM industry is poised for consolidation in 2023, according to RockItCoin’s president Ben Phillips, with the company likely to acquire more players in the coming months. He stated:
“Where costs are increasing for many of the regional players, our existing networks, relationships, and operations are poised for scalability.”
RockItCoin CEO and founder Michael Dalesandro also anticipated additional acquisitions in the fourth quarter of 2022:
“We are constantly on the…
