Bitcoin ATM operator CoinFlip seeks buyer for potential $1 billion sale: report

The bitcoin ATM operator CoinFlip could potentially join the spate of crypto mergers and acquisitions as it seeks a buyer for a $1 billion sale, according to Bloomberg, citing people familiar with the matter. 

CoinFlip enlisted the help of a financial advisor to help navigate its preliminary sale stage. Although CoinFlip aims to secure at least $1 billion for the sale, it's not guaranteed that the firm will achieve that amount or if the sale will even proceed, according to Bloomberg's reporting. 

The Block reached out to CoinFlip for comment. 

CoinFlip is the second-largest operator of cryptocurrency ATMs behind Bitcoin Depot, which maintains a total of nearly 8,700 bitcoin ATMs, data from CoinATMRadar shows. CoinFlip's ATMs span the globe, with approximately 5,600 locations, including around 4,300 in the United States, according to the firm's website. 

In 2018, CoinFlip received seed financing from Shoreline Venture Management, JetBlue Technology Ventures, and Heads or Tails Investments. 

Cryptocurrency ATMs provide individuals with a physical location to purchase, sell, or send digital assets, primarily bitcoin. While they may provide individuals a convenient way to transact cryptocurrency, bad actors employ crypto ATM scams, particularly those targeting the elderly. United States lawmakers have introduced legislation, such as the Crypto ATM Fraud Prevention Act, this year to combat this type of fraud, The Block previously reported. 

Crypto M&A activity has been on the rise since at least November 2024. It continues its trend well into 2025, driven by improved regulatory clarity for the blockchain industry and renewed interest from web2 firms. Most recently, the trading app Robinhood completed its $200 million acquisition of the crypto exchange Bitstamp on June 3, The Block previously reported.