Bitcoin Bancorp snaps up thousands of defunct Bitcoin Depot ATMs for $620,000
Bitcoin Bancorp has acquired over 2,500 defunct Bitcoin Depot ATMs and associated intellectual property for approximately $730,000 following Bitcoin Depot's Chapter 11 bankruptcy. The acquisition represents a significant discount compared to the equipment's previous valuation, highlighting the ongoing volatility and regulatory challenges facing the crypto ATM industry.
Why it matters
The deal underscores the consolidation of distressed assets in the crypto infrastructure space and highlights the growing regulatory scrutiny surrounding crypto ATMs due to their association with financial fraud.
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.
Just over a quarter of Bitcoin Depot’s more than 9,200 kiosks have been sold for less than $1 million , court records show.
The winner of the bidding process for Bitcoin Depot’s former locations was Bitcoin Bancorp (BCBC), a publicly traded digital asset infrastructure company, formerly known as Bullet Blockchain.
The Las Vegas-headquartered company won the bid to take over 2,547 ATMs for a total of $620,750. Bitcoin Depot valued its entire property and equipment, 98% of which was its kiosks, at more than $26 million in the the fourth quarter of 2025 , the company’s last complete earnings report before bankruptcy.
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