Bitcoin Depot Inc. (NASDAQ: BTM) has appointed Scott Buchanan, who has served as President since August 2025 and as Chief Operating Officer since March 2022, as its new Chief Executive Officer effective January 1 2026. Founder Brandon Mintz will step down from the CEO role and assume the position of Executive Chairman, allowing him to concentrate on strategic vision, mergers and acquisitions, and long‑term growth initiatives.
In addition to the CEO transition, the company announced that Elizabeth Simer will take over as Chief Operating Officer. Simer brings extensive experience in operations and supply‑chain management, positioning the firm to support its expanding network of over 9,000 Bitcoin ATM kiosks across North America as of August 2025.
The leadership change comes on the heels of a strong Q3 2025 earnings report in which Bitcoin Depot generated $162.5 million in revenue, up 20 % year‑over‑year, and $16.1 million in adjusted EBITDA, a 75 % increase from the same period a year earlier. The revenue growth was driven by a 40 % rise in gross profit to $28.2 million, reflecting higher transaction volumes and a favorable mix of high‑margin kiosk sales. The company’s gross‑margin improvement of 250 basis points to 17.4 % underscores disciplined cost management amid rising operating expenses.
Management explained that the CEO transition is part of a broader strategy to navigate regulatory headwinds—particularly recent California legislation that has pressured transaction volumes—and to accelerate M&A activity. Mintz stated, "This leadership evolution positions us to capitalize on the significant strategic, operational, and M&A opportunities ahead. Stepping out of the CEO role allows me to focus more directly on the Company’s long‑term direction." Buchanan added, "I’m honored to step into the CEO role and continue advancing the strong vision Brandon has built. With a renewed focus on operational excellence, strategic expansion, and thoughtful M&A evaluation, Bitcoin Depot will build on its market leadership."
Analysts have maintained a positive outlook on the company’s trajectory, noting that the leadership shift signals confidence in sustaining growth while addressing regulatory challenges. Investors are closely watching the company’s forward guidance, particularly the lower Q4 2025 revenue forecast, which reflects caution amid macro‑economic uncertainty and ongoing regulatory scrutiny.
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