Portage Point Advises Bitcoin Depot on Chapter 11 Proceedings and Serves as Chief Restructuring Officer

Portage Point Partners is serving as Chief Restructuring Officer to Bitcoin Depot (the Company), North America’s largest Bitcoin ATM operator, in connection with the Company’s voluntary Chapter 11 proceedings filed in the United States Bankruptcy Court for the Southern District of Texas. Tom Studebaker, Managing Director and Head of Turnaround & Restructuring Services, will serve as Chief Restructuring Officer.  

Bitcoin Depot, which once operated more than 9,000 Bitcoin ATM kiosks across the US, Canada and Australia and traded on Nasdaq under the ticker BTM, filed voluntarily for Chapter 11 protection on May 18, 2026. The Company had faced significant shifts within the regulatory environment, including increasingly stringent state compliance obligations, new transaction limits and outright restrictions or bans on Bitcoin ATM operations in certain jurisdictions, as well as mounting litigation and regulatory enforcement actions.  

This engagement highlights the Portage Point team’s deep expertise in complex, accelerated restructurings requiring operational leadership, creditor alignment and decisive execution across multi-jurisdictional proceedings. Learn more about our Turnaround & Restructuring Services practice.