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Bitcoin Depot Stock Price Plunges 71% in Pre-market Trading, Announces Bankruptcy Filing Today

2026.05.18 21:30:42

On May 18, Bitcoin Depot—one of the largest Bitcoin ATM operators in the U.S.—announced it has filed for Chapter 11 bankruptcy protection in the Southern District of Texas, with plans to sell off its assets and wind down operations gradually. Bitcoin Depot noted that while the firm has beefed up anti-fraud measures in recent years—such as tightening identity verification protocols and lowering transaction limits—escalating regulatory pressure and compliance costs have made its business model "unsustainable." Once a top crypto ATM operator across North America, Bitcoin Depot operated more than 9,000 Bitcoin ATMs as of August 2025. Now, the company has shut down its entire ATM network and launched a court-supervised asset sale and liquidation process. In response to the bankruptcy news, Bitcoin Depot’s (NASDAQ: BTM) pre-market stock price plunged over 71%. Since its debut on the Nasdaq in 2023, the stock has seen a cumulative decline of nearly 95%. Industry insiders point out that with U.S. and Canadian regulators continuing to tighten oversight of cash-to-cryptocurrency businesses—including stricter consumer protection requirements, enhanced anti-fraud responsibilities, and tighter transaction monitoring obligations—the entire cryptocurrency ATM industry is facing systemic profitability pressure.
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