Bitcoin Depot Files for Chapter 11: What It Means for Cash-to-Crypto Users

Bitcoin Depot, one of the largest Bitcoin ATM operators in North America, filed for Chapter 11 bankruptcy on May 17, 2026 in the U.S. Bankruptcy Court for the Southern District of Texas. The company has taken its network of approximately 9,000 kiosks offline as it pursues a voluntary wind-down and sale of assets, leaving customers across the United States and parts of Canada without access to cash-to-crypto services at familiar retail locations.

What happened

Bitcoin Depot operated kiosks at convenience stores, gas stations, supermarkets, and other retail partners across 47 U.S. states and several Canadian provinces. The company traded publicly on Nasdaq under the ticker BTM prior to the filing.

According to the company’s filing, Bitcoin Depot will pursue a sale of its assets through the bankruptcy process. The kiosk network was taken offline in conjunction with the filing, meaning physical machines remain installed at retail locations but are no longer operational for cash-to-Bitcoin transactions.

What it means for users

For customers who relied on Bitcoin Depot kiosks for cash-to-Bitcoin access, the immediate impact is that their familiar machines no longer function. Pending transactions, account access, and refund inquiries fall under the Chapter 11 process and should be directed to Bitcoin Depot through the channels specified in its court filings.

For everyday cash-to-crypto needs, users will need to seek out alternative operators. The Bitcoin ATM industry in North America includes a number of independent operators with varying coverage — most major metros are served by at least two or three.

Industry context

The Chapter 11 filing reflects broader pressure on the Bitcoin ATM industry. Operators have faced rising compliance costs, evolving regulatory requirements across U.S. states and Canadian provinces, and intensifying competition. The collapse of the largest network leaves a sizable footprint open to consolidation, and remaining operators are actively expanding to serve former Bitcoin Depot customers and host venues.

Where to find a working Bitcoin ATM

Cash-to-crypto access did not disappear with Bitcoin Depot. Bitstop, an independent operator headquartered in Miami, currently operates more than 2,500 Bitcoin ATMs across the United States and Canada. Bitstop kiosks support bitcoin, cryptocurrency, and gold purchases with cash and are located at convenience stores, gas stations, and other retail partners across major metro areas.

Users can find their nearest Bitstop ATM through our online locator, which lets visitors search by city, state, province, or ZIP code.

Bitcoin Depot’s customers and host venues are looking for continuity. Our team is actively expanding into the markets Bitcoin Depot is exiting, and we’re focused on making the transition as straightforward as possible for everyone affected

For former Bitcoin Depot host businesses

Retail locations that hosted a Bitcoin Depot kiosk lost more than the machine — they lost foot traffic and a monthly revenue share. Bitstop is actively expanding its retail network and accepting applications from former Bitcoin Depot host venues. More information is available through our business development team.

The shutdown of Bitcoin Depot marks a significant moment for the U.S. and Canadian Bitcoin ATM industry, but cash-to-crypto access for everyday users continues through remaining operators. Customers looking for a working alternative to a Bitcoin Depot kiosk can use Bitstop’s Bitcoin Depot alternative locator to find the nearest operating Bitcoin ATM.