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