Even as some competitors expand their bitcoin ATM operations, Bitcoin Depot, once the largest operator of bitcoin ATMs in North America, announced it is closing up shop. Bitcoin Depot announced Monday that it was filing Chapter 11 bankruptcy in the Southern District of Texas and would begin an orderly wind-down of its business in the United States. It expects to begin similar proceedings in Canada and elsewhere around the world “in due course.” Bitcoin ATMs, or BTMs, allow users to buy bitcoin directly for cash, bypassing the need for cryptocurrency exchanges, and the credit cards and bank accounts needed to use them. Saying its business model has become “unsustainable,” Bitcoin…
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