Bitcoin Well loses $4.14-million in Q3 2025

Executive Summary

• Bitcoin Well Inc. reported financial and operating results for the third quarter ended September 30, 2025, showing significant revenue growth driven by its online portal and Bitcoin Infinite segments.
• The company reported a net loss of $4.1 million for Q3 2025, primarily due to unfavorable fair value changes related to cryptocurrency loans, despite improvements in Adjusted EBITDA.
• The company settled $212,599 in debt by issuing 1,662,427 common shares and disclosed a related party transaction involving director Terry Rhode.

Key Details

• Q3 2025 Revenue: $34.0 million, a 62% increase from $21.0 million in Q3 2024.
  • Online Bitcoin Portal Revenue: $17.5 million (up 85% from $9.4 million in Q3 2024).
  • Bitcoin Infinite Revenue: $9.4 million (up 67% from $5.6 million in Q3 2024).
  • ATM Sales Revenue: $7.2 million (up 21% from $6.0 million in Q3 2024).
• Nine Months Ended Sept 30, 2025 Revenue: $97.9 million, a 62% increase from $60.5 million in the same period of 2024.
• Gross Profit:
  • Q3 2025: $1.3 million (up 46% from $900,000 in Q3 2024).
  • Nine Months 2025: $3.8 million (up 37% from $2.8 million in 2024).
• Adjusted EBITDA:
  • Q3 2025: Negative $300,000 (improved from negative $600,000 in Q3 2024).
  • Nine Months 2025: Negative $700,000 (improved from negative $1.7 million in 2024).
• Net Loss:
  • Q3 2025: $4.1 million (increase from comparative period in 2024).
  • Nine Months 2025: $5.0 million.
  • Reason for loss increase: Unfavorable fair value changes related to cryptocurrency loans.
• Bitcoin Treasury:
  • As of Sept 30, 2025: 42.36 BTC.
  • Subsequent acquisition: 26.63 BTC acquired between Oct 1 and Nov 5, 2025.
  • Total BTC as of Nov 5, 2025: 69.00 BTC.
  • Average purchase price of new BTC: $112,477 USD / $157,897 CAD.
• Debt Settlement (Closed):
  • Total debt settled: $212,599.
  • Shares issued: 1,662,427 common shares.
  • Settlement breakdown:
    • $98,787 settled via 681,290 shares at a deemed price of 14.5 cents per share.
    • $113,812 settled via 981,137 shares at a deemed price of 11.6 cents per share.
  • Shares issued on Nov 5, 2025, subject to a statutory hold period of four months and one day.
• Related Party Transaction (Terry Rhode):
  • Acquired 213,201 shares at a deemed price of 14.5 cents per share to settle $30,914 of debt.
  • Post-settlement ownership: Approximately 13.36% of issued and outstanding shares on a partially diluted basis (51,420,529 shares).
• Pending Debt Settlement:
  • Debt owed to vendor: $76,000 USD ($106,536.80 CAD) for sponsorship and advertising services.
  • Settlement method: Issuance of 926,406 shares at a deemed price of 11.5 cents per share.
  • Status: Subject to TSX Venture Exchange approval.
  • Hold period: Four months and one day from issuance.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.