Bitcoin Depot Files for Chapter 11 as Crypto ATM Pressure Intensifies
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Bitcoin Depot filed voluntary Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas and has taken its entire Bitcoin ATM network offline while winding down operations and seeking to sell assets, with Canadian entities included and other subsidiaries expected to follow foreign law. Revenue fell 49.2% year‑over‑year amid stricter crypto ATM rules and lawsuits, and the company reported over $20M in legal judgments before bankruptcy, highlighting regulatory, legal and adoption risks for the crypto ATM and broader crypto retail access market.
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- Bitcoin Depot filed for Chapter 11 as it moves to close its Bitcoin ATM operations nationwide.
- Revenue fell 49.2% YoY as stricter crypto ATM rules and lawsuits pressured operations.
- Bitcoin Depot reported over $20M in legal judgments before bankruptcy proceedings began.
Bitcoin Depot has started a voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas as the company moves to wind down operations and sell its assets following mounting regulatory and legal pressure on the crypto ATM sector.
The company confirmed that its entire Bitcoin ATM network has been taken offline as part of the court-supervised restructuring process. Its Canadian entities are also included in the proceedings, while other international subsidiaries are expected to wind down operations in accordance with applicable foreign laws.
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