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

Bitcoin Well Inc. (TSXV: BTCW; OTCQB: BCNWF) announced financial and operating results for Q1 2025, with revenue reaching $31.8 million, a 97% increase from Q1 2024.

Online Bitcoin Portal revenue grew by 111% to $15.2 million, while Bitcoin Well Infinite revenue surged by 374% to $11.7 million.

The company reported a net income of $3.3 million for the quarter, a significant improvement from the $8.1 million loss in Q1 2024.

Unique registrations increased by over 7,000 in Q1 2025, totaling over 41,000 as of May 1, 2025.

Adjusted EBITDA was negative $0.35 million, an improvement from the negative $0.43 million in Q1 2024.

Bitcoin Well Infinite facilitates large bitcoin transactions for high-net-worth individuals and businesses.

Gross profit increased by 35% to $1.1 million, although the gross margin decreased due to a shift in sales mix.

Additional information is available on the Bitcoin Well website and SEDAR+.