DigitalX is talking to the receivers of troubled ATM operator Stargroup — and up to 15 other ATM providers — to get its proposed Bitcoin cash machine network up and running.

DigitalX (ASX:DCC), the ASX’s only listed cryptocurrency company, signed a joint venture with Stargroup (ASX:STL) in September to add Bitcoin transactions to Stargroup’s 2900 Australian ATMs.

Unfortunately, Stargroup had to call in the receivers for three of its eight subsidiaries this month after debt restructure talks failed.

Digital X chief Leigh Travers told Stockhead they had identified and was talking to as many as 15 other ATM providers in Australia.

DigitalX shares over the past six months. Source:
DigitalX shares over the past six months. Source:

There are already about 20 ATMs in Australia that can exchange Bitcoins, but conversion fees are 4 to 8 per cent of the transaction value – and users can only buy Bitcoins.

DigitalX’s share price has soared this month due to its exposure to cryptocurrencies such as Bitcoin.

The shares have risen 85 per cent since October, closing up 9 per cent on Tuesday at 25c.

Bitcoin is close to hitting the $US10,000 mark after rising almost 70 per cent from a mid-November low to $US9876 ($12,947) on Tuesday evening.