On 18.05.2026 Bitcoin Depot initiated a voluntary Chapter 11 filing in the Federal Bankruptcy Court for the Southern District of Texas.

Bankruptcy filing and network status

At the time of the filing the company operated more than 9,000 cryptocurrency ATMs across 47 U.S. states, Canada and several other countries.

The firm stated that the entire ATM network was already turned off on the day the Chapter 11 petition was announced.

Regulatory pressure and CEO statement

Bitcoin Depot attributed the move to a sharply changing regulatory environment and constrained transaction rules across jurisdictions.

«significantly changed»

«nonviable»

Several U.S. states have implemented per-transaction limits and tightened oversight; Tennessee and Indiana have banned crypto ATMs, while Canada is reported to be considering a nationwide prohibition.

Financial results and legal incidents

Revenue in Q1 2026 declined by 49.2% year on year; the company recorded a net loss of $9.5 million versus net income of $12.2 million in the prior year.

Bitcoin Depot faced an arbitration award of $18.47 million against its Canadian subsidiary over defective terminals and reported a theft of about $3.7 million in April.

Attorney general lawsuits in Massachusetts, Maine and other states alleged that the company’s ATMs were repeatedly used by fraudsters to extract funds from victims.

Restructuring plan and international units

Under Chapter 11 Bitcoin Depot intends an orderly wind-down of operations and sale of assets under court supervision to maximize creditor recoveries.

Canadian entities will be included in the joint U.S. proceedings, while remaining international subsidiaries are expected to be liquidated separately.