Bitcoin Depot to Close Network of 9,000 Crypto ATMs

Bitcoin Depot files for bankruptcy, plans to cease operations and liquidate assets.

The cryptocurrency ATM operator Bitcoin Depot has filed for bankruptcy in Texas. The company plans to cease operations entirely and liquidate its assets.

CEO Alex Holmes attributed the decision to regulatory pressure. He noted that states have tightened compliance requirements, imposed transaction limits, and in some regions, completely banned the operation of crypto ATMs.

The Bitcoin Depot network has already been shut down. The liquidation will affect divisions in the US and other countries, including Canada.

The company’s troubles intensified in March after its license was revoked in Connecticut. At that time, Bitcoin Depot underwent a leadership change, and its revenue forecast dropped by 40%. In April, the operator’s systems were hacked, resulting in a $3.7 million theft.

According to a preliminary report, Bitcoin Depot’s revenue for the first quarter nearly halved. The net loss amounted to $9.5 million compared to a profit of $12.2 million the previous year. The company cited the inability to operate under new restrictions as the main reason for its financial difficulties.

Founded in 2016, Bitcoin Depot’s network once boasted over 9,000 devices, making it the largest crypto ATM operator in North America. Over the past six months, the company’s shares on Nasdaq have plummeted by 94.06%.

In November 2025, the bitcoin ATM operator Crypto Dispensers announced the sale of its business for $100 million. The reason was the criminal prosecution of the company’s CEO.