people · May 20, 2026
Bitcoin Depot Files for Chapter 11 Bankruptcy to Wind Down Operations and Sell Assets
Share the canonical public link.
Bitcoin Depot, the Atlanta-based Nasdaq-listed Bitcoin ATM operator, initiated a voluntary Chapter 11 process in the U.S. Bankruptcy Court for the Southern District of Texas on May 18, 2026, to wind down operations and sell assets after taking its network offline. CEO Alex Holmes stated that increasingly stringent state compliance obligations, new transaction limits, outright bans in some jurisdictions, and rising litigation and enforcement actions have made the business model unsustainable. The filing includes Canadian entities in the U.S. court process with plans to commence Canadian proceedings, while non-U.S. entities wind down under foreign law. Bitcoin Depot operated over 9,000 kiosk locations globally as of August 2025.