The crypto ATM company reported financial difficulties amid a changing regulatory environment and ongoing litigation, which have cost it millions of dollars.
Cryptocurrency ATM company Bitcoin Depot reported “substantial doubts” about the company’s ability to continue operating amid ongoing litigation and a challenging regulatory environment.
In a Form 10-Q filing with the US Securities and Exchange Commission (SEC) on Tuesday, Bitcoin Depot chief financial officer David Gray reported that the company had accrued more than $20 million in legal judgments in the fourth quarter of 2025 and “ongoing litigation matters.” The company also reported “substantial year-over-year declines in revenue” amid US states and municipalities passing laws and regulations banning or restricting crypto ATMs.
“As a result of these factors, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern,” said the report.
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