Fareway to Roll Out 66 New Bitcoin Depot Kiosks

Midwest grocer first to sign with BTM operator/fintech company

4/17/2024

Bitcoin Depot’s products and services offer an intuitive, quick and convenient process for converting cash into Bitcoin.

Fareway Stores has joined forces with Bitcoin Depot, a Bitcoin ATM (BTM) operator and fintech company, to deploy BTMs in 66 Fareway locations, starting in Q2 of 2024, throughout Iowa, Illinois, Minnesota, Nebraska, South Dakota, Kansas and Missouri. The Midwest grocer is the first to sing with the company, although last year Bitcoin Depot rolled out BTMs at 125 GetGo convenience stores operated by Giant Eagle.

“We’re thrilled to work with a growing grocery store brand like Fareway as we continue our own expansion efforts in 2024, reinforcing our commitment to providing easy and convenient crypto access to new and returning users,” noted Brandon Mintz, CEO of Atlanta-based Bitcoin Depot. "Our technology has a proven track record of success across our portfolio of retail partners, and I believe our customer-first approach aligns perfectly with Fareway’s ethos. We anticipate a mutually beneficial partnership that enhances the cash to Bitcoin experience for Fareway customers.”

Bitcoin Depot’s products and services offer an intuitive, quick and convenient process for converting cash into Bitcoin. This enables users to access the broader digital financial system, including using Bitcoin to make payments, transfers, remittances, online purchases and investments.

“At Fareway, we are dedicated to enhancing the shopping experience for our customers by offering innovative solutions and services,” noted Scot Kinne, the grocer’s VP of banking, payments and investments. “Partnering with Bitcoin Depot allows us to further enrich our offerings and meet the evolving needs of our communities. We look forward to introducing Bitcoin Depot’s BTMs to our customers and continuing to provide exceptional service across our stores.”

Users can convert cash to Bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of retail locations in 29 states through its BDCheckout product. The company has the largest market share in North America, with about 7,400 kiosk locations as of April 1.

Family-owned Fareway employs more than 12,000 associates in its 135-plus stores located in Iowa, Illinois, Kansas, Minnesota, Missouri, Nebraska and South Dakota. The company is No. 90 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America. Last year, the company revealed that it was moving its headquarters from Boone, Iowa, to Johnston, Iowa, which is closer to Des Moines. Giant Eagle operates approximately 480 stores throughout western Pennsylvania, north central Ohio, northern West Virginia, Maryland and Indiana. The Cranberry Township, Pa.-based company is No. 40 on The PG 100. PG also named Fareway and Giant Eagle among its Top Regional Retailers.