Bitcoin Well Inc. Reports Record Revenue for 2025

Edmonton, Alberta — March 5, 2026 — Leads & Copy — Bitcoin Well Inc. (TSXV: BTCW; OTCQB: BCNWF) reported its financial and operating results for the fourth quarter and year ended December 31, 2025.

The non-custodial bitcoin business saw revenue climb to $35.0 million for the three months ended December 31, 2025, a 17% increase from $30.1 million in Q4 2024. Revenue for the year reached $133.0 million, marking a 47% increase from $90.5 million in 2024.

Online Bitcoin Portal revenue reached $64.3 million in fiscal 2025, representing a 64% increase. Bitcoin Well Infinite revenue also increased by 64% to $44.4 million in fiscal 2025. The Bitcoin Portal had over 64,000 unique users as of December 31, 2025, a 100% increase from the previous year.

Gross profit was $1.2 million for the three months ended December 31, 2025, consistent with Q4 2024. For the year, gross profit increased by 25% to $5.0 million, up from $4.0 million in 2024.

Adjusted EBITDA was negative $0.7 million for Q4 2025, compared to $25 thousand in Q4 2024. For the year, adjusted EBITDA was negative $1.4 million, an improvement from negative $1.7 million in 2024. The Q4 2025 decline in Adjusted EBITDA was attributed to investments in marketing, advertising, and personnel for the Online Bitcoin Portal and Bitcoin Well Infinite.

Net income for Q4 2025 was $4.2 million, compared to a net loss of $9.8 million in Q4 2024. However, the company reported a net loss of $0.8 million for the year ended December 31, 2025, an improvement from a net loss of $17.8 million in 2024. Bitcoin Well management said the large swings in net income are primarily due to non-cash fair value adjustments related to cryptocurrency loans, and the company is focused on Adjusted EBITDA.

As of December 31, 2025, Bitcoin Well held a net investment of 69 bitcoin in its Bitcoin Treasury, with a fair value of $8.3 million. The average purchase price was $112,477 USD / $157,897 CAD per bitcoin.

In Q4 2025, the Online Bitcoin Portal generated $17.0 million in revenue, up 29% from $13.2 million in Q4 2024. Bitcoin Well Infinite revenue increased slightly to $11.8 million from $11.7 million, while ATM sales increased by 22% to $6.2 million from $5.1 million in Q4 2024.

“The 2025 financial results showcase the strong customer base that we have spent the last few years building,” said Adam O’Brien, founder and CEO of Bitcoin Well. He added that the company was able to showcase growth in total revenue, the bitcoin portal and even Bitcoin Well Infinite despite the market conditions. He said it is a strong signal for the team at Bitcoin Well that the company is spending marketing dollars the right way.

Total revenue for the year ended December 31, 2025 increased to $133.0 million. The Online segment's revenue increased by 64% to $64.3 million in fiscal 2025. Similarly, Bitcoin Well Infinite also saw a 64% revenue increase, reaching $44.4 million. ATM sales of $24.2 million for the year ended December 31, 2025 remained consistent with the prior year.

Bitcoin Well also announced a shares for debt settlement. The company is indebted to a certain creditor in the amount of $61,389 ($45,000 USD) as of February 28, 2026. Bitcoin Well has elected to settle the Sponsorship Agreement Debt by issuing 682,100 Shares at a deemed price of $0.09 per Share.

The settlement of the Sponsorship Agreement Debt through the issuance of Shares remains subject to the approval of the TSXV. All Shares issued pursuant to the Sponsorship Agreement Debt will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.

Additional information can be found on the Bitcoin Well website and SEDAR+.

Source: Bitcoin Well