Once a glittering beacon on Nasdaq, the crypto‑ATM operator Bitcoin Depot has now surrendered to a Chapter 11 bankruptcy, its world‑wide network going dark under the weight of regulatory scorn and financial indigence. The state of Texas has kindly taken custody of its lifelines, ensuring a dignified wind‑down.
revenue fell 49.2% YoY in the quarter ended March 31, 2026.
They also reported a net loss of $9.5 million for that quarter, a stark contrast to the $12.2 million profit logged a year prior.
Founded in 2016, Bitcoin Depot had proudly built one of North America’s largest crypto ATM networks, operating more than 9,000 kiosks worldwide for converting simple cash into the alluring yet fickle bitcoin. Yahoo Finance data showed a brief 5.4% rise on Friday, closing at $2.93, yet the stock has still tumoured 29.6% in the past month and a staggering 80% over six months.
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2026-05-18 11:35