Bitcoin Well Reports 62% Revenue Increase in Q3 2025
EDMONTON, Alberta — November 6, 2025 — Leads & Copy —
Bitcoin Well Inc. (TSXV: BTCW; OTCQB: BCNWF) has released its financial and operating results for the third quarter ending September 30, 2025, reporting revenue of $34.0 million, a 62% increase compared to $21.0 million in Q3 2024. For the nine months ending September 30, 2025, revenue reached $97.9 million, up 62% from $60.5 million in 2024.
The company, which focuses on non-custodial bitcoin services, highlighted significant growth in its online Bitcoin Portal, with revenue increasing by 85% to $17.5 million in Q3 2025. Bitcoin Well Infinite also experienced growth, with revenue rising 67% to $9.4 million during the same period.
As of September 30, 2025, the Bitcoin Portal had over 57,000 unique users, a 78% increase from December 31, 2024, and a 128% increase from September 30, 2024.
Gross profit for the three months ending September 30, 2025, was $1.3 million, a 46% increase from $0.9 million in Q3 2024. Year-to-date gross profit reached $3.8 million, up 37% from $2.8 million in the previous year.
Adjusted EBITDA for Q3 2025 was negative $0.3 million, an improvement from negative $0.6 million in Q3 2024. For the nine months ending September 30, 2025, Adjusted EBITDA improved by $1.0 million to negative $0.7 million, compared to negative $1.7 million in the prior year.
The company reported a net loss of $4.1 million for the three months and $5.0 million for the nine months ending September 30, 2025, primarily due to unfavorable fair value changes related to cryptocurrency loans.
In addition to the financial results, Bitcoin Well announced the closing of a debt settlement, issuing 1,662,427 common shares to settle C$212,599 in interest owing on convertible debentures. The TSX Venture Exchange approved the issuance, which occurred on November 5, 2025.
Bitcoin Well settled C$98,787 by issuing 681,290 shares at C$0.145 each and C$113,812 by issuing 981,137 shares at C$0.116 each. The shares are subject to a four-month hold period.
Terry Rhode, a Bitcoin Well director, acquired 213,201 shares as part of the debt settlement, increasing his control to 16,847,603 shares, along with warrants, options, and convertible debentures. This represents approximately 13.36% of the outstanding shares on a partially diluted basis.
Bitcoin Well has also agreed to settle USD $76,000 (CAD 106,536.80) of debt with a vendor by issuing 926,406 shares at $0.115 per share, pending TSXV approval.
Bitcoin Well aims to make bitcoin useful to everyday people by offering the convenience of modern banking and the benefits of bitcoin. The company’s Bitcoin ATM and Online Bitcoin Portal units drive cash flow to support this mission.
Adam O’Brien, Founder & CEO
Tel: 1 888 711 3866
ir@bitcoinwell.com
Source: Bitcoin Well
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