Smaller Rival Wins Bid to Acquire Thousands of Bitcoin ATMs
Bitcoin Depot's bankruptcy has paved the way for smaller rival Bitcoin Bancorp to acquire 2,547 of its ATMs. The Las Vegas-based company won a bid to purchase the devices for $620,750 and will also pay an additional $110,500 for related site contracts, intellectual property, trademarks, patents, and the BitcoinDepot.com domain name.
The bankruptcy court records show that Bitcoin Bancorp submitted the highest bid for the ATMs out of a total of more than 9,200 devices owned by Bitcoin Depot. The company's market capitalization stands at approximately $18.5 million, significantly lower than Bitcoin Depot's peak market cap of around $400 million.
The move suggests that the physical infrastructure is changing hands between new players rather than the industry disappearing entirely. However, crypto ATMs have come under tighter scrutiny recently due to fraud cases and increasing regulatory pressure, with losses caused by crypto ATM fraud reaching $389 million in 2025, a 58 percent increase compared to the previous year.