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Bitcoin Depot CEO Brandon Mintz sells $ 92,950 in stock by Investing.com



Atlanta-based Depot (NASDAQ: BTM), currently valued at about $ 100 million, recently reported that its CEO, Brandon Mintz, had sold 50,000 shares of Class A joint stock. The sale, which took place on December 2, 2024, was executed at an average price of $ 1,859 per share, totaling about $ 92,950. The transaction is part of the pre-established 10b5-1 Law Trading Plan, initiated by Mintz on November 30, 2023. The stock experienced strong volatility, falling nearly 15% last week alone. InvestingPro Analysis shows that the stock is currently trading below its fair value.

After the sale, Mintz retained 145,672 shares of Class A ordinary shares. In addition, BT Assets, Inc. Mintz is the sole member holding 41,193,024 shares of Class V ordinary shares. These Class V shares may be exchanged for Class A shares on a one-to-one basis at the discretion of BT Assets in accordance with the redemption of the BT HoldCo LLC unit. With overall financial health score rated 'fair' by InvestingProProviding eight more insights into BTM's performance and vision, the company operates with moderate debt levels and low income trading.

In other recent news, Bitcoin Depot Inc. Reported strong third-quarter results that exceeded revenue expectations, driven by the expansion of its fleet of more than 8,300 units by the end of the quarter. HC Wainwright has responded to these developments by raising its Bitcoin Depot stock target from $ 3.50 to $ 4.00, maintaining a buy rating. In addition, Bitcoin Depot has announced plans to introduce cash dividends for common shareholders by 2025, the first potential for publicly traded cryptocurrency companies.

In a change of CEO, Glen Leibowitz resigned as CFO, and the Board of Directors appointed Scott Buchanan, the current COO as Acting CFO and Chief Financial Officer (NASDAQ :). Buchanan's annual base salary will be increased to $ 558,000 while he serves as Acting CFO.

In the development of another company, Bitcoin Depot moved from KPMG LLP to Wolf & Company, PC, its independent publicly traded company. The company also exceeded its 2024 target of installing 8,000 Bitcoin ATMs ahead of schedule and entered into a clear agreement with Lucky Unicorn LLC. Finally, Bitcoin Depot announced the appointment of Teri G. Fontenot to the Board and Chairman of its Audit Committee.

This article was created with AI support and reviewed by an editor. See our T&C for more information.





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