Bitcoin Bancorp acquires 2,547 Bitcoin Depot ATMs for $620,000

Bitcoin Bancorp (BCBC) has purchased 2,547 ATMs from the bankrupt firm Bitcoin Depot for $620,750, plus an additional $110,500 for intellectual property and domain rights. Bitcoin Depot filed for Chapter 11 bankruptcy in May following a 49% year-over-year revenue decline in Q1. The acquisition comes amid increasing global regulatory scrutiny of crypto ATMs, including bans in the UK and stricter enforcement in Canada and Australia.