Cost of Revenue (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cryptocurrency expenses	$	121,759	$	153,193	$	230,223	$	280,854
Floorspace lease expenses		9,120		8,749		17,656		17,782
Kiosk operations expenses		5,829		5,300		10,116		9,907
Total Cost of Revenue (excluding depreciation and amortization reported separately)	$	136,708	$	167,242	$	257,995	$	308,543

Summary of components of cryptocurrency expenses

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of Cryptocurrency (1) - BTM Kiosk	$	121,252	$	152,783	$	229,309	$	279,874
Cost of Cryptocurrency (1) - BDCheckout		159		206		339		515
Software Processing Fees		38		54		45		259
Exchange Fees		—		2		—		20
Mining Fees		307		144		525		177
Software Processing Fee - BDCheckout		3		4		5		9
Total cryptocurrency expenses	$	121,759	$	153,193	$	230,223	$	280,854

(1)Cost of Cryptocurrency includes impairment losses recognized on cryptocurrencies net of any gains recognized from sales of cryptocurrencies on an exchange. Impairment of $2.0 million and $2.4 million were offset by gains from the sale of cryptocurrencies on exchange of $0.0 million and $0.1 million for the three months ended June 30, 2024 and 2023, respectively. Impairment of $4.1 million and $4.6 million were offset by gains from the sale of cryptocurrencies on exchange of $0.0 million and $0.1 million for the six months ended June 30, 2024 and 2023.

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Depreciation of owned BTM kiosks	$	1,293	$	193	$	2,535	$	875
Depreciation of leased BTM kiosks		1,328		2,852		2,589		4,514
Amortization of intangible assets		355		378		733		752
Total depreciation and amortization excluded from cost of revenue	$	2,976	$	3,423	$	5,857	$	6,141
Other depreciation and amortization included in operating expenses		16		76		82		154
Total depreciation and amortization	$	2,992	$	3,499	$	5,939	$	6,295