By Colin Kellaher
Shares of Bitcoin Depot plummeted practically 75% in premarket buying and selling Monday after the Bitcoin ATM operator filed for chapter 11 chapter with plans to wind down its operations and promote its belongings.
Bitcoin Depot mentioned its enterprise mannequin has grow to be unsustainable given vital shifts within the regulatory surroundings for Bitcoin ATM operators.
The Atlanta firm mentioned states have imposed more and more stringent compliance obligations, together with new transaction limits, and, in some circumstances, outright restrictions or bans on Bitcoin ATM operations.
Bitcoin Depot mentioned it has taken its community of Bitcoin ATMs offline, including that its Canadian entities are included within the U.S. court-supervised course of, and that it expects to begin restructuring proceedings in Canada in the end.
Shareholders are typically worn out in chapter circumstances, and Bitcoin Depot shares, which closed Friday at $2.93, had been just lately down 74% to 77 cents in premarket buying and selling.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
Might 18, 2026 06:01 ET (10:01 GMT)
Copyright (c) 2026 Dow Jones & Firm, Inc.
