people · May 20, 2026
Bitcoin Depot, Largest Bitcoin ATM Operator in North America, Files for Bankruptcy
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Bitcoin Depot filed for Chapter 11 bankruptcy with the U.S. Bankruptcy Court for the Southern District of Texas on May 18, 2026, and has taken its entire network of more than 9,000 Bitcoin ATMs offline as part of the court-supervised restructuring to wind down operations and sell assets. CEO Alex Holmes attributed the move to an increasingly hostile regulatory environment with stricter compliance rules, lower transaction limits, lawsuits, enforcement actions, and outright bans on Bitcoin ATMs in some jurisdictions. The Atlanta-based company, which went public on Nasdaq in 2023, faces additional pressure from a lawsuit by the attorneys general of Massachusetts and Iowa over alleged facilitation of crypto scams. The filing includes Canadian entities with plans for Canadian proceedings.