Bitcoin Depot Inc. Reports Net Income of $325,823 for the First Quarter of 2023
Revenue Remains Steady with Bitcoin Depot Inc. Reporting Total Assets of $328,853,551
Bitcoin Depot Inc.(BTM), a subsidiary of GSR II Meteora Acquisition Corp., has released its unaudited condensed financial statements for the first quarter of 2023, revealing a net income of $325,823. The company's revenue remains stable, with total assets amounting to $328,853,551. Let's dive into the details of their financial performance.**
Unaudited Condensed Financial Statements
The unaudited condensed balance sheets for Bitcoin Depot Inc., as of March 31, 2023, and December 31, 2022, showcase the company's current assets and investments held in the Trust Account. While cash decreased from $477,195 to $75,352, prepaid expenses reduced from $500,417 to $452,625 during this period, resulting in total current assets of $527,977 compared to $977,612.
Investments held in the Trust Account increased from $325,436,230 to $328,325,574, contributing to the total assets reaching $328,853,551, up from $326,413,842 at the end of 2022.
