| Cost of Revenue |
(7) Cost of Revenue (Excluding Depreciation and Amortization) The following table presents cost of revenue (excluding depreciation and amortization) by category (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
$ |
440,205 |
|
|
$ |
424,135 |
|
Floorspace lease expenses |
|
|
38,688 |
|
|
|
37,522 |
|
Kiosk operations expenses |
|
|
22,662 |
|
|
|
20,606 |
|
|
|
|
|
|
|
|
|
|
Total cost of revenue (excluding depreciation and amortization reported separately) |
|
$ |
501,555 |
|
|
$ |
482,263 |
|
|
|
|
|
|
|
|
|
| The following table presents the components of cryptocurrency expenses (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Cost of Cryptocurrency (1) —BTM Kiosk |
|
$ |
439,901 |
|
|
$ |
422,873 |
|
Other cryptocurrency expenses |
|
|
304 |
|
|
|
1,262 |
|
|
|
|
|
|
|
|
|
|
Total cryptocurrency expenses |
|
$ |
440,205 |
|
|
$ |
424,135 |
|
|
|
|
|
|
|
|
|
|
| (1) |
Prior to the adoption of ASC 2023-08, (“ASU 2023-08”) Cost of Cryptocurrency included impairment losses recognized on cryptocurrencies net of any gains recognized from sales of cryptocurrencies on an exchange. Impairment charges of $8.7 million were included in Cost of Cryptocurrency during the year ended December 31, 2024. Subsequent to the adoption of ASU 2023-08 on January 1, 2025, realized and unrealized gains and losses on cryptocurrencies during the year ended December 31, 2025 included in Cost of Cryptocurrency were immaterial. | The following table reconciles amounts excluded from the cost of revenue (excluding depreciation and amortization) caption in the Consolidated Statements of Income included in total depreciation and amortization expense in the Consolidated Statements of Income for the period presented (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Depreciation of owned BTM kiosks |
|
$ |
4,710 |
|
|
$ |
4,430 |
|
Depreciation of leased BTM kiosks |
|
|
1,424 |
|
|
|
4,038 |
|
Amortization of intangible assets |
|
|
1,516 |
|
|
|
1,516 |
|
|
|
|
|
|
|
|
|
|
Total depreciation and amortization excluded from cost of revenue |
|
|
7,650 |
|
|
|
9,984 |
|
Other depreciation and amortization included in operating expenses |
|
|
20 |
|
|
|
88 |
|
|
|
|
|
|
|
|
|
|
Total depreciation and amortization |
|
$ |
7,670 |
|
|
$ |
10,072 |
|
|
|
|
|
|
|
|
|
|
|