CoinFlip, a Chicago-based operator of more than 5,500 cryptocurrency ATMs globally, is exploring a potential sale as merger and acquisition activity heats up across the digital asset sector, according to Bloomberg. The company is working with an advisor to gauge buyer interest, the report said. CoinFlip could seek at least $1 billion in a deal, though the valuation is far from guaranteed. Discussions are still in early stages and may not result in a transaction. CoinFlip’s move follows a wave of high-profile crypto acquisitions in 2025, driven by a rally in bitcoin’s BTC$102,122.19 price. Players like Kraken, Ripple and Coinbase have inked deals worth over billions of dollars this year, with others eyeing acquisitions to bolster their balance sheets or prepare for public listings. Founded in 2015, CoinFlip has expanded its footprint beyond the U.S. to markets like Australia, New Zealand and South Africa. It allows users to buy and sell crypto at physical terminals, catering to customers who prefer in-person transactions or lack access to digital platforms. The firm raised seed funding in 2018 from investors including Shoreline Venture Management and JetBlue’s VC arm.