Coinsource, the world’s largest bitcoin ATM network, has reached the 100 machine milestone after a Q1 expansion in New York, adding 14 kiosks to the Empire State since January.
Founded in 2015, Coinsource becomes the first bitcoin ATM company to pass the century mark, with a portfolio surging from 70 to 103 machines since the start of the year. The Fort Worth-based company now controls 36% of the market in America’s most populated city, operating 30 of the 83 machines in the New York City area.
CEO and Co-founder Sheffield Clark said, “New York will always have a special place in our heart because it was the origin of our first successful bitcoin ATM, and we are proud to offer the lowest rates in this market. Bitcoin has been on a tremendous bull run this year too, up about 30%, so clientele is growing fast. In fact, bitcoin just broke its record high of $1327 USD (Coindesk index), this morning hitting $1328.06 per. Our job is to keep providing customers with convenience and instant access to the world’s highest performing currency, across all hours of the day and night, which is rather appropriate for the city that never sleeps.”
New York becomes Coinsource’s second largest state market, behind California’s 34 machines. The 14 machine bulk installation includes the first ever bitcoin ATM in the John F. Kennedy International Airport, the fifth busiest airport in the USA by passenger traffic. The latest batch also includes a pair of two-way machines, giving New Yorkers the opportunity to sell bitcoin for cash, directly from the machine, as well as buy it.
Clark added, “Breaking triple digits was earmarked as one of our main goals for our five-year business plan, but we’ve reached it several years earlier than expected. We have many more surprises in the pipeline for 2017, and are currently conducting the groundwork for rapid expansion across the country.”
Outside of New York, Coinsource installed 3 more machines in the LA area this week, as well as one in New Jersey. New kiosks can be found in North Hollywood, Winnetka, Anaheim, and Jersey City.
Coinsource currently has 103 machines spread across nine states, including California, Louisiana, Missouri, Nevada, New Jersey, New York, Pennsylvania, Tennessee, and Texas.