Bitcoin Well purchases 12.26 more bitcoin for $2.1M

Executive Summary

• Bitcoin Well Inc. used $2.1 million from its recently closed private‑placement financing to purchase approximately 12.26 BTC at an average price of US$122,572 per bitcoin.
• The acquisition raises the company’s total bitcoin holdings to roughly 54.62 BTC, with an overall average purchase price of US$112,890 per bitcoin.
• Management indicated that the majority of proceeds from the first tranche of the private placement will continue to be allocated toward additional bitcoin purchases, aiming to improve its ranking on global and Canadian bitcoin‑treasury leaderboards.

Key Details

• Financing source: $2.1 million drawn from a recently closed private‑placement financing (first tranche).
• Bitcoin purchase: ~12.26 BTC acquired at an average price of US$122,572 (CAD $171,191) per bitcoin.
• Total treasury after purchase: Approximately 54.62 BTC held, with an aggregate average cost of US$112,890 (CAD $156,721) per bitcoin.
• Strategic intent: Majority of remaining first‑tranche proceeds will be used to buy additional bitcoin over the coming weeks.
• Leadership comment: CEO Adam O’Brien noted the company moved from the top 150 to the top 120 globally and into the top 15 in Canada on bitcointreasuries.net rankings.

Notable Quotes

“We are climbing the bitcoin treasury leaderboard according to bitcointreasuries.net,” said Adam O’Brien, founder and chief executive officer of the company. “Last week we were in the top 150 companies holding bitcoin, today we are in the top 120 in the world and the top 15 in Canada, thanks to this recent purchase.”