Crypto ATM Firm Bitcoin Depot Strikes $885 Million SPAC Deal to Go Public

Bitcoin Depot has reached a deal with a special-purpose acquisition company that values the cryptocurrency ATM firm at roughly $885 million and would take it public, company officials said.

The merger comes during market downturns for cryptocurrencies and SPACs and is expected to test investor appetite for bitcoin ATMs, which some skeptics associate with crimes and high fees.

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