Bitcoin Depot Expands Product Portfolio with Acquisition of Social Betting Platform, Kutt
Company Enters Peer-to-Peer Social Betting Market as Part of Broader Product Diversification Strategy
ATLANTA, March 02, 2026 (GLOBE NEWSWIRE) — Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced that it has acquired Kutt, a peer-to-peer (“P2P”) social betting platform that enables users to wager directly against each other on both private and publicly verifiable events.
The acquisition marks Bitcoin Depot’s first entry into the P2P social betting market and reflects the Company’s broader strategy to diversify its product offerings beyond its core Bitcoin ATM business. Kutt’s platform is positioned within one of the fastest-growing segments of consumer fintech, as Americans wagered over $165 billion through U.S. sportsbooks in 2025, reflecting the continued expansion and normalization of legal, digital sports betting nationwide.
Founded in 2022, Kutt lets users set the terms of their bets across a range of markets, including sports, entertainment, and even user-generated events. Kutt provides a consumer-friendly platform for users to engage directly with one another in a social, gamified, and community-driven environment. Kutt is currently available in most U.S. states.
Traditional sportsbooks limit bettors to the markets, odds, and lines they choose to offer. Kutt removes the house from the equation, putting control in the user’s hands. Bettors agree on the terms of their wagers, making the experience more flexible and personalized. Through its many social features, Kutt offers friends, fans, and strangers an easy way to meaningfully connect with each other.
While Bitcoin Depot remains committed to serving its BTM customers and its crypto ATM network, the Company is increasingly investing in new digital product lines as it seeks to expand into adjacent fintech categories.
“The Kutt team has built a strong product with significant potential for growth,” said Scott Buchanan, CEO of Bitcoin Depot. “As we continue to grow beyond our core Bitcoin ATM business, we see a meaningful opportunity to support Kutt’s next phase through product innovation and expanded marketing reach.”
“Kutt has always been about bringing people together through friendly competition and making social betting simple and fun,” said Sim Harmon, founder and CEO of Kutt. “Becoming part of Bitcoin Depot gives us the opportunity to grow faster, reach new audiences, and build even better experiences for our community. We are grateful to everyone who has been part of our journey so far and excited to take this next step together.”
Kutt will continue to operate under its existing brand, with its leadership team remaining in place following the acquisition.
Since becoming the first U.S. Bitcoin ATM operator to go public in July 2023, Bitcoin Depot has demonstrated its ability to expand domestically and internationally while maintaining a focus on compliance, access, and customer experience.
For more information, visit https://bitcoindepot.com.
About Bitcoin Depot
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 47 states and at thousands of name-brand retail locations in 31 states through its BDCheckout product. The Company has the largest market share in North America and operates over 9,000 kiosk locations globally as of August 2025. Learn more at www.bitcoindepot.com.
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