Business
Bitcoin Well Reports 2025 Q2 Financial Results
(TheNewswire) Edmonton, Alberta – August 22, 2025 – TheNewswire - Bit...
About this update from Bitcoin Well Inc
[{"type":"text","content":"Bitcoin Well Reports 2025 Q2 Financial Results\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 – August 22, 2025\n–\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\nsecond quarter ended June 30, 2025.\n \n\n\n\n\n\n\n\n Key highlights\n \n\n\n\n\n\n Revenue of $32.1 million for the 3-months ended June\n30, 2025 (Q2 2024: $23.3 million, +38%) and $63.9 million for the\n6-months ended June 30, 2025 (2024: $39.4 million, +62%).\n \n\n\n\n\n\n Online Bitcoin Portal revenue of $14.6 million in Q2\n2025 (+56% compared to Q2 2024).\n \n\n\n\n\n\n Bitcoin Well Infinite revenue of $11.5 million in Q2\n2025 (+59% compared to Q2 2024).\n \n\n\n\n\n\n\n\n Unique registrations grew to over 48,800 as of June 30,\n2025 (representing year over year growth of 144% from June 30, 2024).\n \n\n\n\n\n\n As of August 1, 2025 the Company had over 51,000 unique\nregistrations\n \n\n\n\n\n\n\n\n Gross profit of $1.4 million for the 3-months ended\nJune 30, 2025 (Q2 2024: $1.0 million, +31%) and $2.4 million for the\n6-months ended June 30, 2025 (2024: $1.8 million, +33%).\n \n\n\n\n\n\n Adjusted EBITDA of negative $0.1 million for the\n3-months ended June 30, 2025 (Q2 2024: negative $0.6 million) and\nnegative $0.5 million for the 6-months ended June 30, 2025 (2024:\nnegative $1.1 million).\n \n\n\n\n\n\n Significant improvement in Adjusted EBITDA due to\nhigher gross profit and lower operating expenses, partially offset by\nincreased investment in marketing and advertising initiatives to\npromote growth of the Online Bitcoin Portal and Bitcoin Well\nInfinite.\n \n\n\n\n\n\n\n\n\n\n As at June 30, 2025, Bitcoin Well held a net investment\nof approximately 11.000 bitcoin in the Bitcoin Well Treasury,\npurchased at an average price of USD $100,887 / CAD $138,468.\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 six months ended,\n \n\n\n\n\n\n\n\n\n\n\n\n June 30,\n \n\n\n\n 2025\n \n\n\n\n\n\n\n\n June 30,\n \n\n\n\n 2024\n \n\n\n\n\n\n\n\n June ...