Bitcoin Depot's 2,547 ATMs Sold for $620,750 After Bankruptcy Filing

Odaily News: After Bitcoin Depot filed for bankruptcy protection in May, some of its assets have been sold. Publicly traded digital asset infrastructure company Bitcoin Bancorp acquired 2,547 ATMs for $620,750, accounting for approximately one-quarter of Bitcoin Depot's more than 9,200 devices. Bitcoin Depot's first-quarter revenue fell 49% year-over-year, swinging from a profit of $12.2 million in the same period last year to a loss of $9.5 million. The company attributed its unsustainable business model to increasingly stringent regulatory requirements, transaction limits, and restrictions or bans in certain regions.