The company sources Bitcoin primarily from co-primary liquidity providers Cumberland DRW, owned by DRW, and Abra. Cumberland DRW has supplied Bitcoin for over four years, while Abra has been a supplier for nearly two years. Genmega supplies the company's Bitcoin teller machine (BTM) kiosks and has provided more than 8,000 kiosks since 2016. Gemini is the sole cryptocurrency exchange where the company holds USD balances to facilitate Bitcoin purchases. For cash transportation, the company contracts armored courier services including Loomis, Brinks, and Garda in the U.S. and Canada. Vendors supporting ATM operations include Bibbeo, Burroughs, Cennox, DropPin, Fiserv, National Services, and OptConnect. Approximately 3,500 BTMs are financed through lease providers, with lease agreements containing a bargain purchase option at lease end. Bitcoin for user transactions is held in a hot wallet and replenished through open market purchases from selected liquidity providers.
Bitcoin Depot Inc's Comment on Supply Chain
The company sources Bitcoin primarily from co-primary liquidity providers Cumberland DRW, owned by DRW, and Abra. Cumberland DRW has supplied Bitcoin for over four years, while Abra has been a supplier for nearly two years. Genmega supplies the company's Bitcoin teller machine (BTM) kiosks and has provided more than 8,000 kiosks since 2016. Gemini is the sole cryptocurrency exchange where the company holds USD balances to facilitate Bitcoin purchases. For cash transportation, the company contracts armored courier services including Loomis, Brinks, and Garda in the U.S. and Canada. Vendors supporting ATM operations include Bibbeo, Burroughs, Cennox, DropPin, Fiserv, National Services, and OptConnect. Approximately 3,500 BTMs are financed through lease providers, with lease agreements containing a bargain purchase option at lease end. Bitcoin for user transactions is held in a hot wallet and replenished through open market purchases from selected liquidity providers.
Sources:
Bitcoin Depot Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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