BTCW:CC - Bitcoin Well Announces 43% Monthly Growth in May on The Bitcoin Portal in the USA
(TheNewswire)
Edmonton, Alberta – TheNewswire - June 4, 2024 – Bitcoin WellInc. (“ Bitcoin Well ” or the “ Company ”)( TSXV: BTCW; OTCQB:BCNWF ), the non-custodial bitcoin business on amission to enable independence, today announces that it has seenvolumes in the USA grow by over 43% in May, 2024 compared to April,2024 .
Bitcoin Well launched the Bitcoin Portal in the USA inSeptember 2023, and grew to service all 50 states in February 2024.From a standing start, the US portal growth has been impressive with43% growth month over month, and 884% growth from January to May 2024.
“Our growth in the USA has been tremendous,” saidAdam O’Brien, founder & CEO of Bitcoin Well. “It seems likethe USA is craving a self-custody bitcoin platform to safely buybitcoin, and as the only automatic self custody bitcoin platform inthe country it seems like we are well positioned to take advantage ofthe opportunity.”
Globally, the Bitcoin Portal grew 22% month over monthwith revenue over $5,500,000 CAD in May 2024. The Company estimatesits gross margin on this revenue will exceed 1%.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. Wedo this by making bitcoin useful to everyday people to give them theconvenience of modern banking and the benefits of bitcoin. We callthis future-proofing money. Our existing Bitcoin ATM and OnlineBitcoin Portal business units drive cash flow to help fund thismission.
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Bitcoin Well contact information
For additional investor & media information, pleasecontact:
Adam O’Brien
Tel: 1 888 711 3866
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease .
Forward-lookinginformation
Certain statements contained in thisnews release may constitute forward-looking information, which isoften, but not always, identified by the use of words such as"anticipate", "plan", "estimate","expect", "may", "will","intend", "should", or the negative thereof andsimilar expressions. All statements herein other than statements ofhistorical fact constitute forward-looking information including, butnot limited to, statements in respect of Bitcoin Well’s businessplans, strategy and outlook. Forward-looking information involvesknown and unknown risks, uncertainties and other factors that maycause actual results or events to differ materially from thoseanticipated in such forward-looking information including, but notlimited to, the risk factors described in Bitcoin Well’s annualinformation form and management’s discussion and analysis for theyear ended December 31, 2023. Forward-looking information should not be unduly reliedupon. Any forward-lookinginformation contained in this news release represents Bitcoin Well’sexpectations as of the date hereof and is subject to change. BitcoinWell disclaims any intention or obligation to revise anyforward-looking information, except as required by applicablesecurities legislation.
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