The Bhairavnath Temple stands on the east side of Bhaktapur's Taumadhi Square, southeast of the main Darbar square. Also known as the Kasi Biswonath or the Pantali mandir, it is a three-story, rectangular temple dedicated to the god Bhairav (Nasa Dyo), an incarnation of Shiva and the god of terror whose consort occupies the Nyatapola Temple across the square. The temple was damaged but not destroyed in the 2015 earthquake but several adjacent buildings collapsed.
More specifically, according to Dowman, this particular temple is the residence of Akash Bhairav (the sky Bhairav) and is distinguishable from other manifestations of the same deity, such as the Akash Bhairav in Kathmandu.
Originally, the temple had just one storey which was built by King Jagat Jyoti Malla. However, in 1717, two more storeys were added to this temple by King Bhupatindra Malla.