(TheNewswire)
 | |||||||||
 |  |  |  | ||||||
Edmonton, Alberta – TheNewswire - June 4, 2024 – Bitcoin Well Inc. (“Bitcoin Well” or the “Company”) (TSXV: BTCW; OTCQB: BCNWF), the non-custodial bitcoin business on a mission to enable independence, today announces that it has seen volumes in the USA grow by over 43% in May, 2024 compared to April, 2024.
Bitcoin Well launched the Bitcoin Portal in the USA in September 2023, and grew to service all 50 states in February 2024. From a standing start, the US portal growth has been impressive with 43% growth month over month, and 884% growth from January to May 2024.
“Our growth in the USA has been tremendous,” said Adam O’Brien, founder & CEO of Bitcoin Well. “It seems like the USA is craving a self-custody bitcoin platform to safely buy bitcoin, and as the only automatic self custody bitcoin platform in the country it seems like we are well positioned to take advantage of the opportunity.”
Globally, the Bitcoin Portal grew 22% month over month with revenue over $5,500,000 CAD in May 2024. The Company estimates its gross margin on this revenue will exceed 1%.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We call this future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr, LinkedIn, X and YouTube to keep up to date with our business.
Bitcoin Well contact information
For additional investor & media information, please contact:
Adam O’Brien
Tel: 1 888 711 3866
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of Bitcoin Well’s business plans, strategy and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well’s annual information form and management’s discussion and analysis for the year ended December 31, 2023. Forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well’s expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
Copyright (c) 2024 TheNewswire - All rights reserved.
