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Cash Cloud Inc., a bankrupt crypto company, has won $18.47 million in an arbitration award. This follows a long-running legal dispute with BitAccess, a Canadian subsidiary of Bitcoin Depot Inc.
Both Cash Cloud and Bitcoin Depot are well-known for operating Bitcoin (BTC) ATMs. A Bitcoin ATM is a kiosk that allows an individual to purchase BTC and other cryptocurrencies with cash or a debit card.
Related: Popular crypto company shuts down as Bitcoin crashes
Why did Cash Cloud file for Chapter 11 bankruptcy?
Cash Cloud was once a dominant Bitcoin ATM company with nearly 5,700 kiosks that ran operations under the trade name Coin Cloud. However, the Nevada-based company filed for Chapter 11 bankruptcy in Las Vegas on Feb. 7, 2023.
The company claimed that it ran into a debt of more than $153.9 million, owing to faulty machines, a failed software agreement with BitAccess, a costly hack, and alleged fraud by its chief marketing officer.
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Cash Cloud's legal dispute with Bitcoin Depot
Founded in 2016, Bitcoin Depot is a Bitcoin ATM company that claims to have the largest market share in North America with approximately 8,800 kiosk locations.
Though Bitcoin Depot acquired a controlling stake in BitAccess in 2021, Cash Cloud had already signed a master purchase agreement with BitAccess in January 2020.
In August 2022, Cash Cloud initiated arbitration against BitAccess in Canada for allegedly breaching the agreement by supplying faulty hardware and underperforming kiosk software.
Cash Cloud further claimed that such faulty products triggered outages at its ATMs and lowered revenue.
A Bitcoin ATM is seen at the Clark Street subway station on June 13, 2022 in the Brooklyn Heights neighborhood of Brooklyn in New York City. Arbitral tribunal awards $18.47 million to Cash Cloud
On Nov. 24, Bitcoin Depot disclosed in a Form 8-K filing that the arbitral tribunal recently awarded $18.47 million in favor of Cash Cloud following hearings held during December 2024-October 2025.
An arbitration award is a binding decision from a private arbitrator, and it can be enforced just like a court judgment.
BitAccess will vigorously defend this matter, said Bitcoin Depot.
"BitAccess is seeking to have the award set aside, however, we cannot predict with any degree of certainty the ultimate outcome of the matter."
Besides the case in Canada, Cash Cloud filed another lawsuit against Bitcoin Depot in the U.S. Bankruptcy Court for the District of Nevada in 2023. It claimed that certain claims due to the alleged violation of the BitAccess agreement fall outside the Canadian tribunal's jurisdiction.
繼續閱讀Bitcoin Depot said it will vigorously contest this lawsuit also, saying the action is "without merit" as its claims overlap with the ones already mentioned in the Canadian arbitral tribunal.
Related: Bankrupt Bitcoin miner faces new hurdle in Chapter 11 bankruptcy
This story was originally published by TheStreet on Nov 26, 2025, where it first appeared in the Bankruptcy News & Analysis section. Add TheStreet as a Preferred Source by clicking here.
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