Big Crypto Machines Hit Hard Times

Bitcoin Depot once ran the biggest map of coin machines in North America, with over 9, 000 boxes where people slipped cash in to get Bitcoin. Now those boxes sit dark as the company files for bankruptcy protection. Leaders say endless rule changes made the business model impossible, with some states slapping new limits or outright bans on machines that spit out crypto. Courts will now decide what happens to the machines and the Canadian branches, while investors watch their stock slide almost 80% in six months.Behind the scenes, problems piled up fast. Early in 2026 the company swapped out its top boss after a state pulled one of its licenses. Soon after, thieves broke in through digital back doors and made off with $3. 7 million from online wallets. Revenue across the whole network dropped nearly half in three months, and the firm drifted from red ink to deeper red. By spring a Canadian branch was locked in a legal fight over $18. 5 million, adding another weight to the sinking ship.