BTC ATM operator RockItCoin reportedly revealed details of the Tao Bitcoin on buyout – a regional ATM operator with 56 machines, mostly situated in the south of America.

Specifically, per the firm, the buyout was reportedly included in the scope of the firm’s strategy to search for value and synergies among smaller and regional players across the Bitcoin ATM sphere. 

Following the deal, the machines run by RockItCoin nearly hit the 1,900 units figure throughout 44 U.S. states.

The Bitcoin ATM sector is poised for consolidation in 2023, per details revealed by RockItCoin president Ben Phillips, with the firm aiming for acquisitions of extra players in the coming months.

“Where costs are increasing for many of the regional players, our existing networks, relationships and operations are poised for scalability.”

Head of RockItCoin and founder Michael Dalesandro further took part in additional acquisitions in the fourth quarter of 2022. 

RockItCoin CEO and founder Michael Dalesandro also anticipated additional acquisitions in the fourth quarter of 2022:

Throughout the next few weeks, the former Tao Bitcoin ATMs will change ít branding to RockItCoin locations. Established in 2016 by John Taylor and Andrew Arterburn, Tao Bitcoin ran analysis for numerous offers for the machines but went with the decision to finalize the deal with RockItCoin following considerations of “values closely aligned with our own.”

“We are proud of the company we started from scratch to offer consumers easy access to cryptocurrency,” stated Taylor about the acquisition.

Throughout the next half decade, the international crypto ATM market is predicted to develop rapidly to a half-billion-dollar market. 

Insights from Research and Markets offered estimation regarding a compound annual growth rate of 59% for the industry from 2022 to 2027. It currently values the crypto ATM market at $46.4 million and expects this value to increase to $472 million over the time period.