Bitcoin Well Provides Preliminary Year End Update and Bitcoin Super Company Vision

EDMONTON, Alberta, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Bitcoin Well Inc. (“Bitcoin Well” or the “Company”) (TSXV: BTCW; OTCQB: BCNWF), the non-custodial bitcoin business on a mission to enable independence announces a preliminary, unaudited year end update and the “bitcoin super company” vision.

Key highlights

• Bitcoin ATM Revenue in Q4: $8.1 million (8% increase from Q4 2022)
• Bitcoin Portal Revenue in Q4: $7.6 million (59% increase from Q3 2023)
• Bitcoin Portal is now live in all 50 states and continues to gain market share in Canada and the USA
• Estimated 10,990 unique users on the Bitcoin Portal in Canada and the USA in 2023 (368% increase from Q4 2022, 37% increase from Q3 2023)
  • As of Feb 15, 2024 there are an estimated 12,300 unique users on the Bitcoin Portal
    

The Bitcoin super company vision

The vision for Bitcoin Well is a company that is so much more than just buying and selling bitcoin. The Company is truly on a mission to enable independence. Since the beginning, we have believed that Bitcoin ATMs play a key role in the Bitcoin industry. The ability to spend cash at a kiosk (Bitcoin ATM) adds an element of privacy unrivalled by any other way to buy bitcoin. Privacy is an important part of enabling independence, but not the full picture.
With our mission driving our actions, we knew that Bitcoin ATMs alone were not enough. That’s why, in 2022, we started building and launched the Bitcoin Portal. This offered the same safety offered at a Bitcoin ATM (non custodial, direct to consumer experience) but with a level of convenience and a customer experience not possible when transacting in person. This also allowed us to incorporate other functions such as dollar cost average products, the ability to sell bitcoin instantly, and even pay your bills and credit cards with bitcoin. The Bitcoin Portal takes us another step closer to offering the convenience of modern banking, but with the benefits of bitcoin.

“The future of our publicly traded company is to have subsidiary companies all driving bitcoin adoption and safe bitcoin ownership.” said Adam O’Brien, Founder & CEO of Bitcoin Well. “This would include subsidiaries that work directly with bitcoin like payment processing, bitcoin mining or p2p payment gateways. We will be exploring opportunities to industries that are made more efficient because of bitcoin. This could include international money remittance, sports book account funding, or other bitcoin adjacent pockets in this growing industry. “