Overview
- Bitcoin Depot disclosed the award in a Form 8-K, stating a Canadian Arbitration Association tribunal ruled for Cash Cloud after hearings held from December 2024 through October 2025.
- BitAccess, Bitcoin Depot’s Canadian subsidiary, will seek to have the award set aside and the company says it will vigorously defend the matters, noting it cannot predict the outcome.
- Cash Cloud is pursuing a parallel claim for $18.47 million in the U.S. Bankruptcy Court for the District of Nevada, asserting some issues fall outside the Canadian tribunal’s jurisdiction.
- The dispute traces to a 2020 Master Purchase Agreement that Cash Cloud says led to defective hardware and underperforming kiosk software that impaired large portions of its ATM network.
- Cash Cloud operated roughly 5,700 Coin Cloud kiosks before its February 2023 Chapter 11 filing citing over $153.9 million in debt, while Bitcoin Depot reported Q3 revenue of $162.5 million and net income of $5.5 million and says it runs more than 9,000 ATMs.