Bitcoin Depot Inc. (NASDAQ: BTM) announced that Scott Buchanan has stepped down as chief executive officer to pursue opportunities outside the company. The board of directors has appointed Alex Holmes as chairman and CEO, effective immediately.

Holmes brings experience from his tenure at MoneyGram International, where he served as chairman and CEO from 2016 to 2024. During his 16-year career at MoneyGram, he held executive roles including CFO and COO before leading the company's operations across more than 200 countries. Holmes most recently served as executive vice chairman of United Texas Bank.

The leadership change occurs as Bitcoin Depot expands beyond its Bitcoin ATM network into additional fintech and digital asset products. The company operates over 9,000 kiosk locations globally as of August 2025.

Bitcoin Depot founder Brandon Mintz will transition from executive chair to a non-executive board member and advisor role. Mintz will continue as a shareholder and provide strategic guidance to Holmes during the transition.

"My priorities are operational stability, regulatory progress, and accelerating the company's evolution into a more diversified fintech platform," Holmes said in a statement.

Bradley Strock, lead independent director, cited Holmes' experience with regulated global businesses and blockchain technology integration as qualifications for the role. The company provides cash-to-Bitcoin conversion services through kiosks in 47 states and retail locations in 31 states through its BDCheckout product.