Bitcoin Depot · Polymarket · Bitcoin · CoinDesk
Bitcoin Bancorp picks up thousands of defunct Bitcoin Depot ATMs for $620,000
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The bankruptcy of the cryptocurrency ATM sector’s largest provider has opened the door for smaller firms to snap up their defunct kiosks for pennies on the dollar.
Key facts
- Bitcoin Bancorp, whose shares trade at $0.04 on OTC Markets, is a small company compared to its predecessor, with a market cap of around $18.5 million, a fraction of Bitcoin Depot’s peak
- Bitcoin Depot (BTM) filed for Chapter 11 bankruptcy protection in May following a 49% collapse in first-quarter revenue compared to a year earlier and a swing from $12.2 million in profit to a $9.5
- Crypto ATM fraud hit $389 million in losses in 2025, 58% higher than the year
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
Summary
Bitcoin Bancorp bought 2,547 cryptocurrency ATMs from bankrupt Bitcoin Depot for $620,750, a fraction of their previous value. Bitcoin Depot filed for Chapter 11 protection after first-quarter revenue fell 49 percent and a $12.2 million profit became a $9.5 million loss. The sale signals continued interest in cryptocurrency ATMs despite tighter regulation and fraud losses that reached $389 million in 2025. Bitcoin Depot (BTM) filed for Chapter 11 bankruptcy protection in May following a 49% collapse in first-quarter revenue compared to a year earlier and a swing from $12.2 million in profit to a $9.5 million loss in the same period.