Bitcoin Depot (BTM) Cost of Revenue (2022 - 2025)

Bitcoin Depot has disclosed Cost of Revenue across 4 years of filings, most recently posting $484.5 million for Q4 2025.

• Cost of Revenue for Q4 2025 came in at $484.5 million, up 3.78% year-over-year; the trailing twelve-month figure through Dec 2025 was $887.3 million (up 21.53% YoY), and the FY2025 annual result was $501.6 million, up 4.0% from the prior year.
• Cost of Revenue came in at $484.5 million for Q4 2025 at Bitcoin Depot, up from $132.4 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $484.5 million in Q4 2025 to a low of $3.7 million in Q4 2022.
• The 4-year median for Cost of Revenue is $136.7 million (2024), against an average of $158.3 million.
• Across the five-year window, Cost of Revenue surged 3334.9% in 2023 and sank 96.53% in 2024, its largest moves.
• Bitcoin Depot's Cost of Revenue stood at $3.7 million in 2022, then soared by 3334.9% to $126.9 million in 2023, then surged by 268.03% to $466.9 million in 2024, then climbed by 3.78% to $484.5 million in 2025.
• The last three Cost of Revenue figures came in at $484.5 million (Q4 2025), $132.4 million (Q3 2025), and $139.4 million (Q2 2025), per Business Quant data.