Bitcoin Depot reports $9.5 million net loss
Bitcoin Depot has issued a warning that it may not survive the next 12 months due to a 49% year-over-year revenue drop.
The company’s preliminary Q1 financial results revealed a net loss of $9.5 million and revenue of $83.5 million.
The crypto ATM operator is facing regulatory scrutiny and consumer protection lawsuits, which are contributing to its financial struggles.