LYNN, Mass., March 02, 2021 (GLOBE NEWSWIRE) — CoinMover, a U.S.-based Bitcoin ATM kiosk company, for the first time, is working to secure outside funds to accelerate the expansion of its kiosk locations.
With profitable operations in three states today, CoinMover is ready to scale its model nationwide. Having leveraged some existing partnerships they’re poised to do this rapidly across 49 of 50 states.
“CoinMover hopes to raise $5 million from outside investors this Spring. We’re excited about how this will help us grow in 2021,” said Co-Founder and CEO, Jim Murray.
With the global market capitalization of digital currency set to reach into the trillions of dollars this year, demand for CoinMover’s services has seen month-over-month double-digit growth.
“Since expanding our footprint in 2020, CoinMover’s 82% growth during a global pandemic, combined with a 5x revenue increase to $12.5 million is a testament to the future potential of the cryptocurrency market,” said Mike Scanlan, Co-Founder and Chief Technology Officer.
To learn more about CoinMover’s capital raise and to view the updated business plan, please contact [email protected].
For media inquiries, please contact Raquel Heras.
CoinMover was founded in 2018 in Lynn, MA. Its platform enables customers to exchange traditional cash for digital currency at any of its kiosks in highly accessible retail locations. CoinMover’s kiosk can exchange cash for any of the top four digital currencies: Bitcoin, Ethereum, Litecoin, and Dash.
Media Contact: Raquel Heras