2 years ago
130 Santo Mining has announced it has bought 50 Bitcoin ATMs. Data from the company stated that the recently acquired Bitcoin ATMs would be set up in the company’s offices in the Republic of Panama during the first quarter of 2022.
Santo Mining is also seeking to expand its Bitcoin mining capacity over the next 12 months. This will be done through a proposed acquisition of 300 Bitcoin ATMs that will be bought at an estimated amount of over $1 million.
Santo Mining seeking to expand significantly in 2022
Santo Mining seeks to report notable growth in 2022. Santo Pay de Panama, an affiliate of the company, is seeking to launch a multinational operational base in Colombia, Costa Rica, and Panama.
Frank Yglesias, the CEO of Santo, noted that, “2022 will be anon-stop year of growth for Santo, as I personally plan for the companies’ 2022-year workload schedule. Santo is on a journey to help bring a new wave of crypto banking, investment and commerce to over 400,000,000 people in Latin America that are unbanked or unbankable, including 10%-15% of the Hispanics in the USA that also are unbankable.”
Boom in Bitcoin ATMs
The growing adoption of cryptocurrencies has resulted in increased demand for Bitcoin ATMs. The US takes the giant share in the number of Bitcoin ATMs globally. Earlier this year, Coinme installed over 300 Bitcoin ATMs in Florida. Coinme currently has more than 6000 crypto ATMs.
Santo is looking to leverage this growth in demand for Bitcoin ATMs. In 2022, the company expects to ship 300 machines that will be used to power its efforts of achieving global expansion.
Speaking on its future growth plans, the company noted that, “the Bitcoin ATM machines will ship out from Shenzhen China around the 3rd week of February 2022. The company’s Subsidiary “Santo Pay de Panama S.A” will be developing a multinational rollout plan for Panama, Colombia and Costa Rica, not only with the 300 Bitcoin ATMs but with the Santo Crypto Wallet currently in the development stage that will be running on the lightning layer 2 networks and later in Q3 2022 the deployment of the Santo Bitcoin debit card.”
