Bitcoin Well Reports 2025 Q1 Financial Results; Q1 Revenue Increased 97% Year Over Year

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[{"type":"text","content":"Bitcoin Well Reports 2025 Q1 Financial Results; Q1 Revenue Increased 97% 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 – May 6, 2025 –\n \n\n TheNewswire -\n \n\n 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\nfirst quarter ended March 31, 2025.\n \n\n\n\n\n\n\n\n Key highlights\n \n\n\n\n\n\n Revenue of $31.8 million for the 3-months ended March\n31, 2025 (Q1 2024: $16.2 million, +97%).\n \n\n\n\n\n\n Online Bitcoin Portal revenue of 15.2 million in Q1\n2025 (+111%).\n \n\n\n\n\n\n Bitcoin Well Infinite revenue of 11.7 million in Q1\n2025 (+374%).\n \n\n\n\n\n\n\n\n Unique registrations grew by more than 7,000 in Q1 2025\nto a total of over 39,000 as of March 31, 2025 (representing growth of\n22% from December 31, 2024 and 160% from March 31, 2024).\n \n\n\n\n\n\n As of May 1, 2025 the Company had over 41,000 unique\nregistrations\n \n\n\n\n\n\n\n\n Adjusted EBITDA of negative $0.35 million for the\n3-months ended March 31, 2025 (Q1 2024: negative $0.43\nmillion).\n \n\n\n\n\n\n Improvement in Adjusted EBITDA due to higher gross\nprofit, partially offset by significant investments in marketing and\nadvertising initiatives to promote growth of the Online Bitcoin Portal\nand Bitcoin Well Infinite.\n \n\n\n\n\n\n\n\n Net income of $3.3 million for the 3-months ended March\n31, 2025 (Q1 2024: loss of $8.1 million).\n \n\n\n\n\n\n Financial overview\n \n\n\n\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\n\n\n\n\n\n\n\n\n\n\n\n March 31,     2025\n \n\n\n\n\n\n\n\n March 31,\n \n\n\n\n 2024\n \n\n\n\n\n\n\n\n Revenue\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n 31,802,012\n \n\n\n\n\n\n\n\n 16,181,120\n \n\n\n\n\n\n\n\n Gross Profit\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n 1,084,450\n \n\n\n\n\n\n\n\n 802,811\n \n\n\n\n\n\n\n\n Adjusted EBITDA\n \n\n (1)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n (354,693)\n \n\n\n\n\n\n\n\n (430,080)\n \n\n\n\n\n\n\n\n Net income (loss)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n 3,293,498\n \n\n\n\n\n\n\n\n (8,124,693)\n \n\n\n\n\n\n\n\n Total comprehensive los...

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