Business
Bitcoin Well Reports 2024 Q4 And Year End Financial Results; Q4 Revenue Increased 121% Year Over Year
(TheNewswire) Edmonton, Alberta – March 12, 2025 – TheNewswire – Bitco...
About this update from Bitcoin Well Inc
[{"type":"text","content":"Bitcoin Well Reports 2024 Q4 And Year End Financial Results; Q4 Revenue Increased 121% Year Over Year\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Edmonton, Alberta – March 12, 2025\n– TheNewswire – Bitcoin Well Inc.\n \n\n (“\n \n\n Bitcoin Well\n \n\n ” or the “\n \n\n Company\n \n\n ”) (\n \n\n TSXV: BTCW; OTCQB: BCNWF\n \n\n ), the non-custodial bitcoin business on a mission to enable\nindependence, today announced financial and operating results for the\nfourth quarter and year ended December 31, 2024.\n \n\n\n\n\n\n\n\n Key highlights\n \n\n\n\n\n\n Revenue of $30.1 million for the 3-months ended\nDecember 31, 2024 (Q4 2023: $13.6 million, +121%); and $90.5 million\nfor the year ended December 31, 2024 (2023: $54.5 million,\n+66%)\n \n\n\n\n\n\n Revenue growth driven by continuing significant growth\non the Bitcoin Portal (Bitcoin Portal revenue +361% in Q4 2024 and\n+201% full year).\n \n\n\n\n\n\n\n\n Unique registrations grew by more than 5,000 in Q4 to a\ntotal of over 32,000 as of December 31, 2024 (representing growth of\n28% from September 30, 2024 and 191% from December 31, 2023).\n \n\n\n\n\n\n As of March 1, 2025 the Company has over 37,000 unique\nregistrations\n \n\n\n\n\n\n\n\n Financial overview\n \n\n\n\n\n\n\n\n\n\n\n For the three months ended,\n \n\n\n\n\n\n\n\n For the year ended,\n \n\n\n\n\n\n\n\n\n\n\n\n Dec 31,\n \n\n 2024\n \n\n\n\n\n\n\n\n Dec 31,\n \n\n 2023\n \n\n\n\n\n\n\n\n Dec 31, 2024\n \n\n\n\n\n\n\n\n Dec 31,\n \n\n 2023\n \n\n\n\n\n\n\n\n Revenue\n \n\n\n\n\n\n\n\n $     30,059,063\n \n\n\n\n\n\n\n\n $    13,590,048\n \n\n\n\n\n\n\n\n $    90,513,400\n \n\n\n\n\n\n\n\n $    54,531,838\n \n\n\n\n\n\n\n\n Gross Profit\n \n\n\n\n\n\n\n\n 1,220,390\n \n\n\n\n\n\n\n\n 1,427,803\n \n\n\n\n\n\n\n\n 3,970,608\n \n\n\n\n\n\n\n\n 4,826,169\n \n\n\n\n\n\n\n\n Adjusted EBITDA\n \n\n (1)\n \n\n\n\n\n\n\n\n 25,673\n \n\n\n\n\n\n\n\n 177,360\n \n\n\n\n\n\n\n\n (1,655,890)\n \n\n\n\n\n\n\n\n (440,794)\n \n\n\n\n\n\n\n\n Adjusted Cash Flow\n \n\n (1)\n \n\n\n\n\n\n\n\n (154,672)\n \n\n\n\n\n\n\n\n (138,489)\n \n\n\n\n\n\n\n\n (2,598,072)\n \n\n\n\n\n\n\n\n (2,102,581)\n \n\n\n\n\n\n\n\n Total comprehensive loss\n \n\n\n\n\n\n\n\n (2,477,571)\n \n\n\n\n\n\n\n\n (1,264,70...