Four others don’t function at all. One may wonder how many bitcoin ATMs of the total 484 listed by CoinATMRadar are really available.

A Lamassu bitcoin ATM in Keene, New Hampshire, has celebrated its first birthday in November 2015, according to the Concord Monitor. It is located in a retail shop open 8 hours a day (7 hours on Sunday). It sells bitcoins for dollars, charging 5% fee (up to 10% in the periods of high volatility). It is the only one functioning machine in the six states that comprise New England.

In May 2015 the total number of bitcoin ATMs in the world reached 400. Today CoinATMRadar lists 484 machines. Five of them located in New England – one in Boston, three in the famous university town of Cambridge, MA, home of Harvard University and MIT, and one in the small town Keene in New Hampshire. However, the reports available at CoinATMRadar suggest that bitcoin ATMs in Boston and Cambridge do not work. For instance, the status of the ATM in Harvard Square is “temporary outage”. A report from 11 November says it is “dead & looks like it has been for a while”.

Because of this, says Ian Freeman, the owner of the machine in Keene, bitcoin enthusiasts from the neighbouring states have to drive to the town to use the ATM. They have no choice, as other closest machines are located in New York (200 miles away from Keene) and Montreal (250 miles away). This affects even the people from MIT, hosting the Digital Currency Initiative since April 2015.

According to blockchain.info, the bitcoin ATM in Keene is used almost daily, sometimes up to five times a day. Of the 5% fee, Freeman pays one to the store, uses one percent to buy bitcoin and one to cover technical costs. In October US$10,000 went through the ATM, leaving him a $200 profit.

Alexey Tereshchenko