As September 2022 marked the first time in history that global net installations experienced negative growth due mostly to a slowdown in the United States, the ripple effects of a protracted downturn market began to affect the Bitcoin (BTC) ATM ecosystem.
According to data from CoinATMRadar, the overall number of Bitcoin ATMs installed throughout time decreased to 37,980 in September from an all-time high of 38,776 ATMs in August, a decrease of -2.05%.
The monthly change in the total number of bitcoin machines deployed and decommissioned. the CoinATMRadar website
Despite the setback, statistics based on 60 days indicates that roughly 14 cryptocurrency ATMs are being built daily globally, with Genesis Coin accounting for a 40.3% share of ATM makers. Manufacturers of other well-known crypto ATMs include General Bytes and BitAccess.
Geopolitical tensions and other issues, such as a lack of regulatory clarity and market uncertainty, can be blamed for the abrupt decline in the number of crypto ATM installations.
Related: How Bitcoin ATMs in Greece fare during a record-breaking tourist season
Countries continue to express interest in having operational crypto ATMs within their borders, notwithstanding the temporary setback that external circumstances have caused to crypto ATM installations.
Most recently, Japan opted to bring back crypto ATMs after 2014. Local crypto exchange Gaia Co. was the driving force behind this decision. In the beginning, new ATMs will be placed all around Tokyo and Osaka. By the end of August 2023, the company hopes to have 50 BTMs operating nationwide.
Gaia became the first locally-registered cryptocurrency startup to set up crypto ATMs in Japan, as Cointelegraph reported.