Bitcoin Depot, a Bitcoin ATM operator, reported a first-quarter revenue of $164.2 million, marking a 19% year-on-year increase. The company achieved a net profit of $12.2 million, reversing previous losses. On the day of the report, Bitcoin Depot's stock price rose by 22% to $2.04, although it remained 79% below its listing price from July last year. The value of Bitcoin held by the company increased significantly from $600,000 to $7.8 million under new fair value accounting standards. Additionally, Bitcoin Depot is in the process of applying for an operating license in New York State, where it anticipates deploying 3,000 devices.

PANews reported on May 16 that according to Decrypt, Bitcoin ATM operator Bitcoin Depot's revenue in the first quarter was $164.2 million, a year-on-year increase of 19%, and a net profit of $12.2 million, turning losses into profits. The company's stock price rose 22% to $2.04 that day, but it was still 79% lower than the listing price in July last year. The value of Bitcoin held by Bitcoin Depot increased from $600,000 to $7.8 million, measured using new fair value accounting standards. The company is applying for a New York State operating license and expects the state market to accommodate 3,000 devices.

Bitcoin Depot's Q1 revenue increased by 19%, achieving net profit and applying for an operating license in New York State.