Bitcoin Bancorp Buys 2,547 Bitcoin Depot Kiosks for $620,750
Along with the kiosks, Bitcoin Bancorp is also getting the brands, patents, and BitcoinDepot.com. The deal highlights the pressure on crypto ATMs from bankruptcies, fraud, and tougher regulators.
Key Takeaways
- Bitcoin Bancorp bought 2,547 former Bitcoin Depot kiosks for $620,750, a strikingly low price in a badly hit sector.
- Bitcoin Depot filed for Chapter 11 protection in May after revenue fell 49% and it posted a $9.5 million loss in the first quarter.
- Crypto ATMs are facing more scrutiny because of fraud; in 2025, losses climbed to $389 million, 58% more than a year earlier.
Bitcoin Bancorp bought 2,547 former Bitcoin Depot kiosks for $620,750 (€534,400), a strikingly low price in a sector that is being hit hard by bankruptcies and tighter rules. The deal shows how quickly the crypto ATM market has shifted after the biggest player in the sector went under.
Bitcoin Depot Bankruptcy
Bitcoin Depot filed for Chapter 11 protection in May after revenue in the first quarter fell 49% from a year earlier. In the same period, the company also swung from a $12.2 million (€10.5 million) profit to a $9.5 million (€8.2 million) loss.
According to court filings, just over a quarter of Bitcoin Depot's more than 9,200 kiosks have now been sold for less than $1 million (€0.9 million). Bitcoin Depot had still valued its total tangible assets, 98% of which consisted of kiosks, at more than $26 million (€22.4 million) in the fourth quarter of 2025.
Bitcoin Bancorp Expands
The buyer is Bitcoin Bancorp, a publicly traded crypto company from Las Vegas that was previously known as Bullet Blockchain. The company won the bidding round for Bitcoin Depot's former locations and, in addition to the kiosks, also bought the related floor agreements, intellectual property, trademarks, patents, and the BitcoinDepot.com domain name for another $110,500 (€95,100).
Bitcoin Bancorp trades on OTC Markets at around $0.04 (€0.034) per share and has a market value of about $18.5 million (€15.9 million). For comparison, Bitcoin Depot at its peak, when it was still listed on Nasdaq, had a market value of about $400 million (€344 million).
The company said on Wednesday that the final closing still depends on standard closing conditions. Bitcoin Bancorp expects the remaining closings to be completed in the coming quarter.
More Pressure on Crypto ATMs
Crypto ATMs are machines where users can deposit cash to buy crypto. In recent years, they have come under more and more attention from regulators, partly because scammers use them in fraud cases where victims are pressured to send money quickly.
In 2025, losses from crypto ATM fraud climbed to $389 million (€335 million), 58% more than a year earlier. In the United Kingdom, crypto ATMs have been banned for years by the Financial Conduct Authority, while regulators in places including Australia and Canada later stepped in as well.
For European crypto news readers, this matters because the sector shows how physical crypto infrastructure can come under regulation faster than fully digital services. The mix of fraud, local rules, and bankruptcies could keep changing the crypto ATM market, even though it is not yet clear how far that shift will go.
Regulators are also seeing more pressure on crypto infrastructure in other parts of the market. In Australia, the regulator recently removed 45 crypto and payment companies from registers, including for inactivity, insolvency, and compliance problems.
