Bitcoin Depot, once North America’s largest operator of cryptocurrency ATMs, filed for Chapter 11 bankruptcy protection in May 2026. It immediately took its network of more than 9,000 machines offline. The move, detailed in the company’s press release and covered by Yahoo Finance , included roughly 200 locations in the Houston area alone. Machines sat idle in convenience stores and gas stations across the continent. Revenue had plunged 49 percent from 2025 levels. A $9.5 million net loss capped a year of steady decline. CEO Alex Holmes pointed to an unforgiving shift in state rules. Stricter compliance demands, lower transaction caps and outright bans in some jurisdictions made the model untenable. “Over time, the Company has continued to strengthen its protocols,” Holmes said. “Nevertheless, the regulatory environment for BTM operators has shifted significantly. These developments have materially affected Bitcoin Depot’s business and financial position.…