Bitcoin ATM operator, CoinFlip, is exploring a potential sale with an initial valuation target of at least $1 billion. The Chicago-based company has hired a financial advisor to assist in the sale process.
Sources familiar with the matter said discussions are at a preliminary stage and a deal is not guaranteed. It’s unclear if buyers will meet the market valuation. The details of the transactions haven’t been made public yet.
Founded in 2015, CoinFlip operates more than 5,500 ATMs worldwide.
The crypto space is heating up with billion-dollar deals. Recently, Kraken and Coinbase Global have announced billion-dollar-plus deals.
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