14 Bitcoin ATMs In March Sees Coinsource Becoming Cali BTM Market Leader

Bitcoin ATM operator Coinsource has added 14 new machines in just one US state in March alone, now owning more BTMs in California than anyone else.

The rollout takes the company’s expansion rate to the equivalent of 2.3 machines per week, with its 35 BTMs accounting for 30 percent of the Golden State’s market.

“California is currently the most densely populated state with Bitcoin ATM machines and to become the leader in this market is a proud moment,” CEO and co-founder Sheffield Clark said in a press release Monday.

Number of Bitcoin ATMs

The BTM scene in the US has advanced rapidly over the past two years, with Coinsource installing seven machines in Los Angeles last summer.

Further afield, new countries are entering the market, most recently Russia, which gained what appeared to be its first official BTM in St. Petersburg late February.

Clark added:

“Machines are popping up in countries like China, Russia, South Korea, Ireland, Mexico and France, so it's great to know that accessibility to our generation’s hottest asset is increasing everyday.”

Competition has also led to unexpected scenarios. A complaint filed in the Northern Illinois District Court in December described how a group of operators were threatening rivals with death and destroying machines in a bid to create a monopoly.