Bitcoin Depot (BTM)

• Market cap: $115M
• 1 day: -6.45%
• 5 days: -13.11%
• 1 month: -3.93%
• 3 months: 211.41%
• 6 months: 197.44%
• Year to date: 190.00%
• 1 year: 188.20%
• 5 years: -52.99%
• 10 years: -52.99%
• Sector: Financials
• Industry: Capital Markets

About: Bitcoin Depot Inc owns and operates the widest network of BTMs across North America where customers can buy and sell Bitcoin. Bitcoin Depot helps power the digital economy for users of cash. It has locations across the U.S. and Canada at, among others, the following types of retailers: Convenience Stores and Gas Station Chains, Pharmacies and Grocers and Mall Operators.

Employees: 126

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

42% more capital invested

Capital invested by funds: $7.54M [Q4 2024] → $10.7M (+$3.15M) [Q1 2025]

6.59% more ownership

Funds ownership: 26.45% [Q4 2024] → 33.04% (+6.59%) [Q1 2025]

0% more repeat investments, than reductions

Existing positions increased: 6 | Existing positions reduced: 6

4% less funds holding

Funds holding: 27 [Q4 2024] → 26 (-1) [Q1 2025]

17% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 6

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $5.50 19% upside
• Avg. target: $5.50 19% upside
• High target: $5.50 19% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

B. Riley Securities Harold Goetsch

19% upside $5.50

Buy Maintained

16 May 2025