Bitcoin Well Inc.
BTCW🇨🇦Leveraged
Bitcoin Well Inc. is a Canadian Bitcoin services company operating 160+ Bitcoin ATMs and a non-custodial online Bitcoin platform. Adopted a Bitcoin treasury strategy in December 2024, initially funding BTC purchases via a CAD $2M convertible debenture offering, and later expanding through a US$100M private placement of equity units and an ATM equity program.
BTC Holdings
69 BTC
180d
Stock Price
0.07 CAD
180d
Total financing
28.29M CAD
Insufficient history
mNAV
3.98x
180d
Leverage
417.1%
180d
BTC Credit
664 bps0.2x
Sats/Share
18
180d
Mkt capFD
26.98M CAD
SharesFD
385.46M
Total reserve
6.78M CAD
Dilution
7.0%
Coverage
2.7 yr
BTC mix
7%
Analytics
BTC Coverage
Financials
IFRSAnnualAs of 2025-12-31
Balance Sheet
Total AssetsC$29.9M▲6.7%
Total LiabilitiesC$37.5M▼8.7%
Stockholders' EquityC$-7.5M▲41.9%
Cash & EquivalentsC$3.1M▲9.2%
Total DebtC$35.9M▼9.2%
Digital AssetsC$24.6M▲9.8%
Income Statement
RevenueC$133M▲46.9%
Operating IncomeC$-6M▼23.7%
Net IncomeC$-793.2K▲95.5%
Interest ExpenseC$3.2M▲24.6%
Cash Flow
Operating Cash FlowC$-4.4M▼42.5%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| BTCW-Dec29 | Dec '24 – Dec '29 | 8% | 2.00M CAD | 2.00M CAD | 0.23 CAD | 0.2x |
| BTCW-May28 | Feb '22 – May '28 | 13.4% | 5.00M CAD | 4.10M CAD | 0.25 CAD | 1.6x |
| Total | 6.10M CAD | |||||
Recent Changes
Mon, Apr 6, 2026
Shares Outstanding
355.9M→360.4M+4.4M(+1.2%)
Q1 2026: +850K ATM, +1.1M use-of-coin settlement, +1.8M debenture interest settlement, +682K sponsorship settlement
Strong U.S. Market Traction, Debt Settlement, ATM UpdateTue, Mar 31, 2026
ATM Activity2026-01-01 – 2026-03-31
850.0K shares$102.3K
Net proceeds C$97,628 after C$4,700 commissions; intended for BTC treasury
Strong U.S. Market Traction, Debt Settlement, ATM UpdateThu, Jan 1, 2026
Shares Outstanding
220.2M→355.9M+135.8M(+61.7%)
Post private placement (122.5M units)
Shares for Debt Settlement, Private Placement Closing, Stock Option GrantFri, Oct 17, 2025
BTC Holdings
67.8→69+1.2 BTC(+1.8%)
BTC Holdings Tracker