Bitcoin ATM Network Coinsource Surpasses 100 Machine Milestone

By Avi Mizrahi May 1, 2017 4:41 AM EDT

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Coinsource, the American bitcoin ATM network, now operates 103 machines across the country after an expansion in New York, adding 14 kiosks to the Empire State.

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Founded in 2015, the Texas-based company now claims to control 36% of the market in America’s most populous city, operating 30 of the 83 machines in the New York City area.

Sheffield Clark

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. 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.”

The bulk installation includes the first ever bitcoin ATM in the John F. Kennedy International Airport, the fifth busiest airport in the US. 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.”

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