Bitcoin ATM operator Bitcoin Depot experienced a significant surge in financial performance during the first quarter of 2025. The company reported $164.2 million in revenue, a 19% increase compared to the previous year. This success translated into a net profit of $12.2 million, marking a transition from loss to profitability. Following the announcement, Bitcoin Depot’s stock price rallied by 22%, reaching $2.04, though it remains below its initial public offering price set in July last year (79% decrease). The company’s bitcoin holdings grew substantially, rising from $600,000 to $7.8 million, reflecting the adoption of new fair value accounting standards. Bitcoin Depot is also actively pursuing an operational license in New York, anticipating a thriving market with potential for up to 3,000 machines.