TechFlow News, May 18: According to The Block, Bitcoin Depot (BTM), a Nasdaq-listed Bitcoin ATM operator, filed for Chapter 11 bankruptcy protection on May 18 in the U.S. District Court for the Southern District of Texas, announcing an orderly liquidation and sale of assets. CEO Alex Holmes stated that increasingly stringent state-level compliance requirements, transaction limit restrictions, and operational bans in certain regions have rendered the company’s existing business model unsustainable.
Previously, the company suffered a security breach in April 2026, resulting in a $3.7 million loss; its Q1 2026 revenue declined 49.2% year-on-year, with a net loss of $9.5 million. Currently, all over 9,000 Bitcoin ATMs operated globally by Bitcoin Depot have been taken offline, and its overseas entities—including those in Canada—will also be shut down.
