The Nasdaq-listed BTC ATM operator reports a 49% YoY revenue drop and swings to a $9.5 million Q1 2026 loss.
Bitcoin Depot, a Nasdaq-listed operator of over 9,000 Bitcoin ATMs, filed for Chapter 11 bankruptcy after reporting a 49% year-over-year revenue decline in Q1 2026. The company cited a challenging regulatory environment and falling Bitcoin prices as key factors in its financial struggles.
In Q1 2025, Bitcoin Depot posted a net profit of $12.2 million, but the same period in 2026 saw a net loss of $9.5 million. The company operates cash-to-Bitcoin kiosks across the U.S., Canada, and Australia, maintaining a leading market position in North America.
The filing follows a wave of crypto-related bankruptcies, including Archblock LLC and Blockfills, amid broader industry liquidity pressures.