Bitcoin Depot announced that it has acquired Kutt, a peer-to-peer social betting platform, marking the company’s first entry into the P2P social betting market as part of a broader strategy to diversify beyond its core Bitcoin ATM business.
The Atlanta-based fintech company said the acquisition expands its product offerings into adjacent consumer fintech categories while continuing to support its existing network of Bitcoin ATMs. Bitcoin Depot operates thousands of kiosks globally and allows users to convert cash into bitcoin for payments, spending, and investing.
Founded in 2022, Kutt enables users to wager directly against one another on both private and publicly verifiable events. The platform allows participants to create betting markets across sports, entertainment, and user-generated events. Unlike traditional sportsbooks, which determine odds and available markets, Kutt allows bettors to set their own wager terms, removing the house and allowing users to negotiate directly.
The company described the platform as a social and community-driven betting experience designed to connect users through competition and shared interests. Kutt is currently available in most U.S. states and includes social features intended to make betting more interactive.
Bitcoin Depot said the move aligns with the rapid growth of legal digital sports betting in the United States. Americans wagered more than $165 billion through U.S. sportsbooks in 2025, highlighting the expansion of the market.
Following the acquisition, Kutt will continue operating under its existing brand and leadership team while gaining access to Bitcoin Depot’s resources to support product development and marketing expansion.
Bitcoin Depot, founded in 2016, went public in July 2023 and operates more than 9,000 kiosk locations globally. The company said it plans to continue investing in new digital products as it expands into complementary fintech services.
KEY QUOTES:
“The Kutt team has built a strong product with significant potential for growth. As we continue to grow beyond our core Bitcoin ATM business, we see a meaningful opportunity to support Kutt’s next phase through product innovation and expanded marketing reach.”
Scott Buchanan, CEO Of Bitcoin Depot
“Kutt has always been about bringing people together through friendly competition and making social betting simple and fun. Becoming part of Bitcoin Depot gives us the opportunity to grow faster, reach new audiences, and build even better experiences for our community. We are grateful to everyone who has been part of our journey so far and excited to take this next step together.”
Sim Harmon, Founder And CEO Of Kutt
