Cost of Revenue (Tables)

3 Months Ended

Mar. 31, 2024

Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization [Abstract]

Summary of cost of revenue (excluding depreciation and amortization)

The following table presents cost of revenue (excluding depreciation and amortization) by category (in thousands):

	Three Months Ended March 31,
	2024		2023
Cryptocurrency expenses	$	108,464	$	127,661
Floorspace lease expenses		8,536		9,032
Kiosk operations expenses		4,287		4,607
Total Cost of Revenue (excluding depreciation and amortization reported separately)	$	121,287	$	141,300

Summary of components of cryptocurrency expenses

The following table presents the components of cryptocurrency expenses (in thousands):

	Three Months Ended March 31,
	2024		2023
Cost of Cryptocurrency (1) - BTM Kiosk	$	108,063	$	127,090
Cost of Cryptocurrency (1) - BDCheckout		183		309
Software Processing Fees		—		205
Exchange Fees		—		19
Mining Fees		218		33
Software Processing Fee - BDCheckout		—		5
Total cryptocurrency expenses	$	108,464	$	127,661

(1)Cost of Cryptocurrency includes impairment losses recognized on cryptocurrencies net of any gains recognized from sales of cryptocurrencies on an exchange. Impairment of $2.1 million and $2.2 million were recognized for the three months ended March 31, 2024 and 2023. There were no gains from the sale of cryptocurrency during the periods.

Summary of reconciles amounts excluded from the cost of revenue

The following table reconciles amounts excluded from the cost of revenue (excluding depreciation and amortization) caption in the Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income included in total depreciation and amortization expense in the Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income for the period presented (in thousands):

	Three Months Ended March 31,
	2024		2023
Depreciation of owned BTM kiosks	$	1,242	$	681
Depreciation of leased BTM kiosks		1,261		1,663
Amortization of ROU asset		378		374
Total depreciation and amortization excluded from cost of revenue	$	2,881	$	2,718
Other depreciation and amortization included in operating expenses		66		78
Total depreciation and amortization	$	2,947	$	2,796