Bitcoin Bancorp Acquires 2,547 Bitcoin Depot ATMs Following Bankruptcy

Bitcoin Bancorp (BCBC) has acquired 2,547 ATMs from the bankrupt crypto ATM operator Bitcoin Depot (BTM) for $620,750. This purchase represents over a quarter of Bitcoin Depot's fleet of more than 9,200 machines. Bitcoin Depot filed for bankruptcy protection in May after reporting a 49% year-over-year revenue decline in the first quarter, shifting from a $12.2 million profit to a $9.5 million loss. The company cited unsustainable business conditions driven by tightening regulations, transaction limits, and regional bans.