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Cryptocurrencies | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Cryptocurrencies | (12) Cryptocurrencies Cryptocurrency transactions The following tables present additional information about the adjusted cost basis of cryptocurrencies, including those allocated to the Company's treasury strategy, (in thousands):
|  | BTC |  |  | ETH |  |  | Total |
Beginning balance—January 1, 2024 |  | $ | 711 |  |  | $ | 1 |  |  | $ | 712 |
Purchase or receipts of cryptocurrency |  |  | 108,094 |  |  |  | — |  |  |  | 108,094 |
Cost of cryptocurrencies sold or distributed |  |  | (106,303 | ) |  |  | — |  |  |  | (106,303 | )
Impairment of cryptocurrencies |  |  | (2,062 | ) |  |  | — |  |  |  | (2,062 | )
Balance—March 31, 2024 |  | $ | 440 |  |  | $ | 1 |  |  | $ | 441 |
Purchase or receipts of cryptocurrency |  |  | 121,874 |  |  |  | — |  |  |  | 121,874 |
Cost of cryptocurrencies sold or distributed |  |  | (119,675 | ) |  |  | — |  |  |  | (119,675 | )
Impairment of cryptocurrencies |  |  | (2,040 | ) |  |  | — |  |  |  | (2,040 | )
Balance—June 30, 2024 |  | $ | 599 |  |  | $ | 1 |  |  | $ | 600 |
Purchase or receipts of cryptocurrency |  |  | 98,470 |  |  |  | — |  |  |  | 98,470 |
Cost of cryptocurrencies sold or distributed |  |  | (95,272 | ) |  |  | — |  |  |  | (95,272 | )
Impairment of cryptocurrencies |  |  | (2,487 | ) |  |  | — |  |  |  | (2,487 | )
Balance—September 30, 2024 |  | $ | 1,310 |  |  | $ | 1 |  |  | $ | 1,311 |
|  | BTC |  |  | ETH |  |  | LTC |  |  | Total |
Beginning balance—January 1, 2023 |  | $ | 523 |  |  | $ | 9 |  |  | $ | 8 |  |  | $ | 540 |
Purchase or receipts of cryptocurrency |  |  | 127,530 |  |  |  | 4 |  |  |  | 3 |  |  |  | 127,537 |
Cost of cryptocurrencies sold or distributed |  |  | (125,465 | ) |  |  | (12 | ) |  |  | (11 | ) |  |  | (125,488 | )
Impairment of cryptocurrencies |  |  | (2,187 | ) |  |  | — |  |  |  | — |  |  |  | (2,187 | )
Balance—March 31, 2023 |  | $ | 401 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 402 |
Purchase or receipts of cryptocurrency |  |  | 153,351 |  |  |  | — |  |  |  | — |  |  |  | 153,351 |
Cost of cryptocurrencies sold or distributed |  |  | (150,552 | ) |  |  | — |  |  |  | — |  |  |  | (150,552 | )
Impairment of cryptocurrencies |  |  | (2,390 | ) |  |  | — |  |  |  | — |  |  |  | (2,390 | )
Balance—June 30, 2023 |  | $ | 810 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 811 |
Purchase or receipts of cryptocurrency |  |  | 139,065 |  |  |  | — |  |  |  | — |  |  |  | 139,065 |
Cost of cryptocurrencies sold or distributed |  |  | (137,288 | ) |  |  | — |  |  |  | — |  |  |  | (137,288 | )
Impairment of cryptocurrencies |  |  | (1,793 | ) |  |  | — |  |  |  | — |  |  |  | (1,793 | )
Balance—September 30, 2023 |  | $ | 794 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 795 |
Purchases or receipts of cryptocurrency consists of: (a) cash paid by the Company to purchase cryptocurrencies on various exchanges and from liquidity providers and related transaction costs to acquire the cryptocurrencies, (b) receipts of cryptocurrency sold to the Company by customers at the BTM kiosks, and (c) receipts of cryptocurrency received by the Company as consideration for company website and software services revenue. Costs of cryptocurrencies sold or distributed represents the adjusted cost basis of cryptocurrencies sold to customers or payments made in cryptocurrencies, recorded through the date of disposition. As of September 30, 2024 and December 31, 2023, the Company had $3.6 million and $5.1 million due to liquidity providers related to Bitcoin purchased during the period. These amounts are paid in cash, generally within one week from which the expenses are incurred and are presented within “Accrued expenses and other current liabilities” on the Consolidated Balance Sheet.

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