Bitcoin Depot Execs Sell Shares Amid Strong Q2 Results and Expansion Plans
Bitcoin Depot, a prominent cryptocurrency ATM operator, has witnessed significant activity from its top executives. CEO Brandon Mintz sold a substantial number of shares, while COO Christopher Scott Buchanan also sold some. Meanwhile, investment bank B. Riley has raised its price target for the company's stock.
Between October 1 and 3, CEO Brandon Mintz sold 842,732 shares worth $3.26 million. This sale comes as Bitcoin Depot shows positive financial growth, reporting a net profit of $6.07 million in Q2 2025, compared to a net loss in the previous year. The company's earnings per share have also improved, from -$0.13 to $0.16. Despite high debt, the stock is currently trading at about 30% below its estimated fair value, presenting a potential buying opportunity.
COO Christopher Scott Buchanan also sold 7,000 shares for $26,740 on October 3. Looking ahead, Bitcoin Depot expects adjusted EBITDA to increase by about 50% in the third quarter of 2024. The company is strategically expanding, having recently acquired assets from competitor National Bitcoin ATM and Westcliff Technologies. Revenue is projected to reach about $160 million in the third quarter, an 18% increase from the previous year.
Bitcoin Depot's recent financial performance and expansion plans have caught the attention of investors. The company's stock has received a price target increase from B. Riley, which has reaffirmed its buy rating. Despite recent share sales by top executives, the company's financial outlook remains positive.
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