Bitcoin Depot Shares Recover Slightly In Wednesday Pre-Market: What’s Going On?

Shares of Bitcoin Depot Inc. (NASDAQ:BTM) edged higher in Wednesday’s pre-market trading after the cryptocurrency ATM operator reported nearly a threefold jump in second-quarter profits.

BTM is showing upward movement. See if it is worth your attention here.

Bitcoin Rally Helps Drive Earnings

The company’s net income skyrocketed 183% to $12.3 million year-over-year, while revenue increased 6% to $172.1 million.

The Atlanta-based firm attributed the profit increase in part to the $2.3 million mark-to-market gain on its BTC holdings. The apex cryptocurrency closed the second quarter up nearly …

Full story available on Benzinga.com