Largest Bitcoin ATM Operator Files For Bankruptcy

CryptoProwl

Mon, May 18, 2026 astatine 10:28 AM CDT 1 min read

Bitcoin Depot (NASDAQ: $BTM), the largest relation of Bitcoin (CRYPTO: $BTC) ATMs successful North America, has filed for Chapter 11 bankruptcy and is closing up shop.

The Atlanta-based institution filed for extortion from its creditors and said it plans to upwind down operations and merchantability its assets. Its full ATM web has been taken offline.

Last year, Bitcoin Depot operated 9,276 kiosks that allowed customers to person currency into BTC astatine retail locations successful the U.S., Canada, and Australia. 

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The institution went nationalist connected the Nasdaq (NASDAQ: $NDAQ) speech successful 2023. 

In caller weeks, the institution reported first-quarter net that showed a 49% year-over-year driblet successful revenue. The institution swung from a $12.2 cardinal U.S. nett to a $9.5 cardinal U.S. loss.

Management blamed excessive regulations for its fiscal decline. The bankruptcy filing besides comes arsenic countries specified arsenic Canada determination to prohibition crypto automated teller machines (ATMs)

Additionally, Bitcoin Depot faces high-profile lawsuits led by attorneys wide successful Massachusetts and Iowa implicit allegations that it helped to facilitate crypto scams. 

Crypto ATM fraud deed a grounds $389 cardinal U.S. successful reported losses during 2025, a 58% summation from 2024, drafting accrued scrutiny from regulators arsenic a result. 

BTM banal crashed 74% connected quality of the bankruptcy filing May 18 and is present trading astatine conscionable $0.75 U.S. per share.