Bitcoin Depot Inc. (BTM) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 10, 2026

Risk Assessment Details

Potential Dilution: 1140.23% of current shares
Recent Dilution: 76.05% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
5.7M
Potential Supply
65M
Additional shares possible
Splits
None
Past 2 years

Summary

BTM currently has 5.72M outstanding shares. with significant dilution risk as 65.2M authorized shares could dilute existing holders by 1140.2%. The company has significantly diluted shareholders by 76.05% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 10, 2026

S-1/A filing: This prospectus relates to the offering and resale by the selling stockholders identified herein of up to 651,786 shares of Class A common stock of Bitcoin Depot Inc.

5.7M 65M
Mar 18, 2026

10-K filing | 5.7M shares outstanding

5.7M 65M
Nov 13, 2025

10-Q filing | 35.0M shares outstanding

35M 65M
Aug 12, 2025

10-Q filing | 26.9M shares outstanding

27M 65M
Jun 20, 2025

S-3 filing: The filing is for a shelf registration of various securities, including Class A common stock and preferred stock, up to an aggregate amount of $100,000,000, and also includes an ATM offering of Class A common stock up to $50,000,000.

23M 65M
May 30, 2025

8-K filing: Bitcoin Depot Inc. entered into a merger agreement and issued 41,193,024 shares of Class M Common Stock to former stockholders of BT Assets in exchange for Class V Common Stock and BT HoldCo Common Units.

21M 56M
May 15, 2025

8-K filing: Bitcoin Depot, Inc. announced an agreement in principle for an Up-C Restructuring where BT Assets will merge with a subsidiary of the Company and receive 41,193,024 shares of the Company's Class M common stock, and all Class V Common Stock held by BT Assets will be cancelled.

22M 56M
May 15, 2025

10-Q filing | 21.4M shares outstanding

21M 56M
Mar 24, 2025

10-K filing | 21.7M shares outstanding

22M 56M
Nov 20, 2024

S-3 filing: This is an S-3 filing for a mixed shelf offering of Class A common stock and preferred stock with a total value of $25,000,000, of which only $13,083,550 is currently eligible for sale. It also specifies the common stock closing price and total shares outstanding.

18M 56M
Nov 14, 2024

10-Q filing | 18.1M shares outstanding

18M 51M
Aug 20, 2024

POS AM filing: This prospectus relates to the issuance of Class A common stock upon exercise of warrants and the resale of Class A common stock and warrants by selling securityholders.

19M 51M
Aug 15, 2024

10-Q filing | 19.4M shares outstanding

19M 51M
May 15, 2024

10-Q filing | 16.6M shares outstanding

17M 51M
Apr 29, 2024

POS AM filing: This is a POS AM filing for Bitcoin Depot Inc. relating to the issuance of up to 43,848,750 shares of Class A common stock upon exercise of warrants and the offer and sale of up to 83,747,027 shares of Class A common stock and up to 12,223,750 private placement warrants by selling securityholders.

14M 51M
Apr 15, 2024

10-K filing | 14.4M shares outstanding

14M 180M
Nov 14, 2023

10-Q filing | 13.3M shares outstanding

13M 180M
Aug 30, 2023

S-1/A filing: This S-1/A filing relates to the issuance of up to 43,848,750 shares of Class A common stock upon exercise of warrants and the offer and sale of up to 83,747,027 shares of Class A common stock by selling securityholders.

12M 180M
Aug 18, 2023

10-Q filing | 12.4M shares outstanding

12M 220M
Aug 04, 2023

S-1/A filing: This S-1/A filing details the offering of up to 83,747,027 shares of Class A common stock, up to 43,848,750 shares of Class A common stock underlying warrants, and up to 12,223,750 warrants to purchase Class A common stock by Bitcoin Depot Inc. and selling securityholders.

12M 220M
Jul 17, 2023

S-1 filing: This S-1 filing includes the issuance of Class A common stock upon exercise of warrants and offer/sale of Class A common stock by selling securityholders.

12M 180M
May 05, 2023

10-Q filing | 31.6M shares outstanding

32M 51M
Mar 30, 2023

10-K filing | 31.6M shares outstanding

32M 51M
Nov 14, 2022

10-Q filing | 31.6M shares outstanding

32M 51M
Aug 15, 2022

10-Q filing | 31.6M shares outstanding

32M 51M
May 16, 2022

10-Q filing | 31.6M shares outstanding

32M 51M
Feb 23, 2022

S-1/A filing: GSR II Meteora Acquisition Corp. is a blank check company offering 27,500,000 units at $10.00 per unit, each consisting of one share of Class A common stock, one-sixteenth of one right and one redeemable warrant.

7.9M 51M
Jan 03, 2022

S-1 filing: GLA II Meteora Acquisition Corp. is offering 22,000,000 units in an initial public offering, with each unit consisting of one share of Class A common stock, one-twentieth of one right and one-half of one redeemable warrant, at a price of $10.00 per unit.

6.3M 28M
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