Bitcoin Well Inc. (V:BTCW)
Business Focus: Blockchain & Cryptocurrency (NEC)
| Sector: Technology | Industry: Blockchain & Cryptocurrency |
| Company Contact | |
| Address: | 10142 82 Avenue NW EDMONTON AB T6E 1Z4 |
| Tel: | N/A |
| Website: | https://bitcoinwell.com |
| IR: | See website |
| Key People | ||
| Adam O'brien Chairman of the Board, Chief Executive Officer | Luke Thibodeau Chief Financial Officer | David Bradley Chief Revenue Officer, Director |
| Business Overview |
| Bitcoin Well Inc. is a Canada-based company engaged in the non-custodial fintech business, which future-proofs money by making bitcoin useful to everyday people. The Company's segments include Bitcoin ATM business (ATMs), and Non-custodial bitcoin platform (Online Bitcoin Portal). The ATMs segment comprises sales and expenses related to the Company's Bitcoin ATMs. The ATMs segment is operating a fleet of over 180 Bitcoin ATM machines placed and operating throughout Canada. The Online Bitcoin Portal segment includes sales and expenses related to the Company's Bitcoin platform. The Online Bitcoin Portal offers Canadians the safest way to buy, sell and use bitcoin online and is designed to offer bank-like functionality coupled with the benefits of Bitcoin. It offers three payment methods, such as Interac e-Transfer, Recurring buy (DCA), Bank transfer- United States, and Cash. The Company offers its services to real estate professionals, agriculture, sovereignty, beginners, and business. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Bitcoin Well Inc revenues decreased 18% to C$54.5M. Net loss increased from C$6M to C$12M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Fair value change - cryptocurrency loans decrease from C$6M (income) to C$7.4M (expense), General and administration increase of 26% to C$2.8M (expense). |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $32.61M as of Dec 31, 2023 |
| Annual revenue (TTM): | $54.53M as of Dec 31, 2023 |
| EBITDA (TTM): | -$0.43M as of Dec 31, 2023 |
| Net annual income (TTM): | -$12.02M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$0.46M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $11.22M as of Dec 31, 2023 |
| Shares outstanding: | 200,160,478 as of Apr 23, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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