Bitcoin Bancorp Buys 2,547 Bitcoin Depot ATMs After Bankruptcy Filing

Bitcoin Depot has sold part of its assets after filing for bankruptcy protection in May. According to Odaily, publicly traded digital asset infrastructure company Bitcoin Bancorp bought 2,547 ATMs for $620,750, or about one-quarter of Bitcoin Depot's more than 9,200 machines. Bitcoin Depot said first-quarter revenue fell 49% from a year earlier, and the company swung from a profit of $12.2 million in the same period last year to a loss of $9.5 million. It attributed the unsustainable business model to tighter regulatory requirements, transaction limits, and restrictions or bans in some regions.