North America's Largest Bitcoin ATM Operator Bitcoin Depot Files for Bankruptcy Protection

Bitcoin ATMs allow consumers to buy cryptocurrency with cash, but their irreversible transactions have long been exploited by fraud rings, prompting tighter regulation across U.S. states. Bitcoin Depot, the largest U.S. operator, runs 9,019 machines. As of February 2026, the United States had 31,360 machines, accounting for 78% of the global total. The company also reached a $1.9 million settlement with the Maine attorney general in January.

Bitcoin Depot said on February 24, 2026, that it had begun phasing in a requirement across its U.S. network for customers to present ID for every transaction, regardless of the amount. Unlike its October 2025 policy, which required verification only for a new user’s first transaction, the new rules also cover returning customers. Before approving a transaction, the system will assess the customer, location and amount in real time for suspicious activity to prevent account sharing, identity theft and account takeovers.