Jacksons Food Stores, with more than 300 company-operated convenience stores, has signed an agreement allowing Bitcoin Depot to assume the retailer’s Bitcoin ATM (BTM) contract. Bitcoin Depot in coming months will install more than 80 of its BTMs in Jacksons stores in Idaho, Nevada, Oregon, Utah, California, Washington and Arizona.
“This partnership with Jacksons Food Stores, one of the larger convenience-store chains in the U.S., further exemplifies Bitcoin Depot’s leading market position and its ability to partner with key retailers in the convenience-store industry that are looking for a reliable partner,” said Brandon Mintz, CEO and founder of Atlanta-based Bitcoin Depot.
Lux Vending LLC, dba Bitcoin Depot, founded in 2016, provides its users with the means to convert cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to Bitcoin at Bitcoin Depot’s kiosks and at thousands of name-brand retail locations through BDCheckout. In North America, the company has approximately 7,000 cryptocurrency kiosk locations in 48 states and 10 Canadian provinces.
Bitcoin Depot is focused on acquiring other kiosk operators and complementary businesses to consolidate the “highly fragmented” BTM industry and to support and enhance its operations and strategy, it said.
In 2022, Bitcoin Depot and GSR II Meteora Acquisition Corp., a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in Bitcoin Depot becoming a public company listed on the Nasdaq under the ticker symbol “BTM.”
- Jacksons Food Stores is No. 25 on CSP’s 2023 Top 40 update to the 2022 Top 202 ranking of U.S. convenience-store chains by size. Watch for the full 2023 list in the June issue of CSPmagazine and online at CSP Daily News.
Meridian, Idaho-based Jacksons operates c-stores under the Jacksons Food Stores and ExtraMile by Jacksons Convenience Store brands.
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