RockItCoin, a major Bitcoin ATM operator has announced the acquisition of a regional ATM operator. The company has announced that it has successfully acquired Tao Bitcoin.
Tao Bitcoin currently has a total of 56 ATM machines for Bitcoin in the southern region of the United States of America.
RockItCoin’s Acquisition Statement
Just recently, RockItCoin announced that they have successfully acquired Tao Bitcoin.
The officials revealed that it is part of their business strategy to acquire and merge with Bitcoin ATM operators that have strong region-based coverage.
Following the acquisition, RockItCoin now owns a great deal of Bitcoin ATM machines all over the United States.
RockItCoin’s ATM Empire Grows Bigger
Prior to the acquisition of Tao Bitcoin, the total number of Bitcoin ATMs RockItCoin owned and operated in the United States was 1,844.
After the acquisition of the regional Bitcoin ATM operator, RockItCoin’s overall count has increased to 1,900. With the latest acquisition, RockItCoin’s coverage has increased to 44 states of America.
Statement by Ben Phillips
Ben Phillips, the president at RockItCoin recently issued a statement about the company’s latest acquisition. He also shared his general opinion and speculation surrounding the Bitcoin ATM market.
As per him, the year 2023 would prove to be full of consolidation for the Bitcoin ATM industry. Therefore, their aim is to acquire as many Bitcoin ATM operators as possible by the end of 2022.
He stated that over time, the costs for the Bitcoin ATM operators in the regions have increased. Therefore, they feel it is important they build stronger operations, and relationships, and strengthen existing networks.
Ben Phillips has already speculated that they would be acquiring more Bitcoin ATM operators in the country in the upcoming months.
Their goal is to acquire as many Bitcoin ATM operators in the region as possible and they want to do it by the end of 2023.
He stated that their goal is to provide their customers with as much convenience as possible. They want to continue expanding their business and network all over the United States.
They want to bring the Bitcoin ATMs as close to their customers as possible. This way, their services would operate effectively, and would also offer great safety to the users.
RockItCoin to Rebrand Tao Bitcoin ATMs
RockItCoin has announced that in the next few weeks, they will be rebranding the Tao Bitcoin ATMs to RockItCoin ATMs.
Tao Bitcoin had received several offers from operators wanting to acquire the company but Tao decided to go with RockItCoin.
As per Tao Bitcoin, the values that RockItCoin follows align with their own values for their business and for the customers. There was no competition when RockItCoin made its move to acquire its company.
The latest move ensures that Bitcoin ATMs would become more convenient and safe for customers.