Strategy adds 24,869 BTC in $2.01B buy; Bitcoin Depot files Chapter 11; BitFuFu mines 207 BTC in April
May 19 (UTC+8) — Filings tracked by BBX show that Strategy has expanded its bitcoin position, while Bitcoin Depot has entered bankruptcy proceedings and BitFuFu reported slightly lower April production.
Strategy Inc. (NASDAQ: MSTR) disclosed in an 8-K filed May 18 that it bought 24,869 BTC between May 11 and May 17 at an average price of about $80,985 per coin, spending roughly $2.01 billion. The purchases were funded entirely through at-the-market (ATM) equity sales. As of May 17, Strategy held 843,738 BTC, acquired for an aggregate cost of about $63.87 billion, implying an average cost of around $75,700 per BTC. The company reported a BTC yield of approximately 9.5% from Jan. 1, 2026 through May 17. The filing indicates the firm continues to accumulate BTC systematically, using financing channels including STRC preferred shares and ATM equity issuance.
Bitcoin Depot Inc. (NASDAQ: BTM) said May 18 via GlobeNewswire that it filed a voluntary Chapter 11 petition on May 17 in the U.S. Bankruptcy Court for the Southern District of Texas, seeking an orderly liquidation and asset sale. The company took all 9,000+ BTM kiosks offline nationwide. Its Canadian entity is included in the U.S. proceedings, while other non-U.S. entities will be liquidated under local rules. The board named restructuring specialist Ivona Smith, appointed Vinson & Elkins as legal counsel, and selected Portage Point Partners as restructuring advisor.
The company also released preliminary Q1 2026 figures: revenue of about $83.5 million, down roughly 49% from about $164.3 million a year earlier; gross profit of $4.5 million, down about 85%; and a net loss of about $9.5 million. CEO Alex Holmes pointed to the regulatory backdrop as the main driver, citing Bitcoin ATM bans in Indiana (March 2026), Tennessee, and Minnesota, and the suspension of the company's operating license in Connecticut. The FBI recorded 13,460 crypto ATM fraud complaints in 2025, with losses totaling $389 million, up 58% year over year. Bitcoin Depot also faces lawsuits brought by the attorneys general of Massachusetts and Iowa. The company warned existing shareholders could be wiped out; BTM shares fell about 75% on the day to roughly $0.75.
BitFuFu Inc. (NASDAQ: FUFU) reported in its April operating update (Form 6-K) that it produced 207 BTC during the month, including 43 BTC from self-mining and 164 BTC from cloud mining. Output was about 3.3% lower than March's 214 BTC, which the company attributed primarily to higher network difficulty. BitFuFu sold about 54 BTC in April. As of April 30, it held 1,882 BTC, up from 1,794 BTC at the end of March, a net increase of 88 BTC. Managed hash rate stood at about 25.9 EH/s, with operating power consumption of roughly 457 MW. The company reported more than 62,000 registered cloud-mining users.
Source: BBX
