Bitcoin Well Inc (BTCW) AI Stock Analysis

• Market Cap: C$34.51M
• Dividend Yield: N/A
• Average Volume (3M): 232.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.82
• Revenue Growth: 72.86%
• EPS Growth: -2.13%
• Country: CA
• Employees: 12
• Sector: Technology
• Sector Strength: 88
• Industry: Financial - Capital Markets
• EPS (TTM): -0.02
• Shares Outstanding: 276,096,470
• 10 Day Avg. Volume: 192,279
• 30 Day Avg. Volume: 232,227
• PEG Ratio: -0.07
• Price to Book (P/B): -2.78
• Price to Sales (P/S): 0.40
• P/FCF Ratio: -11.77
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: C$0.12 ▲(10.00% Upside)

The score is weighed down primarily by weak financial performance: ongoing losses, continued cash burn, and a highly pressured balance sheet with negative equity and high leverage. Technicals are mixed with a weak longer-term trend, while valuation is constrained by a negative P/E and no dividend support.

Positive Factors

Revenue Growth

The significant revenue growth indicates a strong market demand for Bitcoin Well's services, suggesting potential for future expansion and increased market share.

Market Position

As a leading Bitcoin ATM operator, Bitcoin Well benefits from first-mover advantages and brand recognition, which can enhance customer loyalty and competitive positioning.

Partnerships

Strategic partnerships enhance operational capabilities and customer reach, potentially driving transaction volume and revenue growth.

Negative Factors

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting the company's ability to invest in growth opportunities or weather economic downturns.

Negative Equity

Negative equity indicates financial instability, raising concerns about the company's long-term viability and its ability to meet financial obligations.

Profitability Challenges

Persistent profitability issues suggest operational inefficiencies and may hinder the company's ability to generate sustainable earnings and reinvest in growth.

Bitcoin Well Inc Business Overview & Revenue Model

Company Description

Bitcoin Well Inc. acquires, owns, and operates cryptocurrency ATM machines. It provides online and in-person solutions to buy and sell bitcoin and other cryptocurrencies. The company also offers a suite of web-based transaction services to buy and sell bitcoins. As of January 26, 2022, it owned and operated approximately 200 cryptocurrency ATMs in the United States and Canada. Bitcoin Well Inc. was founded in 2013 and is headquartered in Edmonton, Canada.

How the Company Makes Money

Bitcoin Well generates revenue primarily through transaction fees charged on Bitcoin purchases and sales conducted via its ATMs. Each transaction incurs a fee, which varies depending on the amount and location of the transaction. The company also earns money from the sale of Bitcoin and other cryptocurrencies, as well as from its associated digital wallet services. Partnerships with financial institutions and payment processors enhance its operational capabilities and customer reach, contributing to its revenue streams. Furthermore, Bitcoin Well may engage in strategic initiatives such as promotional campaigns or educational workshops, which can also drive customer engagement and increase transaction volume, thereby boosting overall earnings.

Bitcoin Well Inc Financial Statement Overview

Summary

Bitcoin Well Inc. faces significant financial challenges, including profitability issues, high leverage, and negative equity. Despite some revenue growth, the company struggles with cost control and cash generation. The financial structure is precarious, with liabilities exceeding assets and negative equity, raising concerns about long-term viability.

Income Statement

The income statement reveals a mixed performance. The company has experienced significant revenue fluctuations, with recent revenue growth of 66% from 2023 to 2024, but a decline in gross profit margin from 8.8% in 2023 to 4.4% in 2024. Net profit margins have been negative, indicating ongoing profitability challenges. The absence of EBIT and negative EBITDA in 2024 highlight operational inefficiencies.

Balance Sheet

The balance sheet shows significant financial instability, with negative stockholders' equity, increasing debt levels, and a high debt-to-equity ratio due to the negative equity. The company is heavily leveraged, which poses a risk in terms of financial sustainability. The equity ratio is negative, indicating that liabilities exceed assets, which is concerning.

Cash Flow

Cash flow analysis indicates ongoing struggles with cash generation. Free cash flow remains negative, showing no improvement. Operating cash flow to net income ratio is negative, reflecting difficulties in converting income into cash. However, there is slight improvement in operating cash flow from 2023 to 2024, suggesting marginal operational improvement.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	128.00M	90.51M	54.53M	66.73M	99.61M	51.97M
Gross Profit	4.52M	3.97M	4.83M	4.42M	5.17M	7.29M
EBITDA	-11.45M	-14.56M	-8.08M	-1.52M	-12.22M	2.48M
Net Income	-14.84M	-17.78M	-12.02M	-5.99M	-13.60M	-2.74M
Balance Sheet
Total Assets	39.68M	28.02M	14.91M	14.02M	23.56M	12.12M
Cash, Cash Equivalents and Short-Term Investments	37.15M	25.25M	11.89M	9.95M	13.40M	4.05M
Total Debt	41.93M	39.55M	23.12M	18.86M	15.91M	11.60M
Total Liabilities	43.34M	41.02M	24.06M	19.86M	17.57M	13.00M
Stockholders Equity	-3.65M	-12.99M	-9.15M	-5.83M	5.99M	-872.20K
Cash Flow
Free Cash Flow	-5.61M	-3.07M	-3.56M	-9.79M	-5.06M	-3.77M
Operating Cash Flow	-5.60M	-3.07M	-3.56M	-9.08M	-2.43M	-2.08M
Investing Cash Flow	-1.04M	1.07M	3.18M	-720.86K	-3.12M	-1.70M
Financing Cash Flow	14.14M	3.21M	-1.89M	8.94M	6.30M	6.66M

Bitcoin Well Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BTCW, the sentiment is Positive. The current price of 0.11 is below the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.11, and below the 200-day MA of 0.13, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 63.14 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BTCW.

Bitcoin Well Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BIGG	52 Neutral	C$29.76M	-2.14	-63.28%	―	36.80%	9.34%
DMGI	49 Neutral	C$71.88M	-6.47	-10.10%	―	39.64%	-70.96%
BTC	45 Neutral	C$6.33M	-1.10	-277.20%	―	―	-15.07%
CBIT	45 Neutral	C$29.90M	-7.82	-13.56%	―	40.83%	-123.25%
FRNT	44 Neutral	C$8.51M	-2.68	-66.57%	―	-51.53%	3.62%
BTCW	43 Neutral	C$34.51M	-1.94	―	―	72.86%	-2.13%

Bitcoin Well Inc Corporate Events

Bitcoin Well Doubles User Base and Targets Record 2025 Revenue Amid Global Expansion

Bitcoin Well reported strong preliminary, unaudited results for 2025, driven by rapid growth in its Bitcoin Portal business and an expanding global footprint. The company doubled its customer base to over 64,000 registrations, grew yearly active customers to more than 12,500, and expects record annual revenue surpassing $100 million. Key milestones included registration as a Payment Service Provider under Canada’s Retail Payment Activities Act, the launch of cash balance functionality within its portal to ease movement between Canadian dollars and bitcoin, and the rollout of AI-driven tools such as a Bitcoin Retirement Calculator to attract new users. Bitcoin Well also extended its Bitcoin Well Infinite services to clients in the US, Europe and the UAE, completed a U.S. infrastructure migration to support higher limits and functionality in a market that already represents over 30% of its registrations, and established a 69-bitcoin strategic reserve while pursuing capital raising and potential uplisting to larger exchanges, underscoring its ambitions for continued expansion and enhanced shareholder value.

The most recent analyst rating on (TSE:BTCW) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Bitcoin Well Inc stock, see the TSE:BTCW Stock Forecast page.

Bitcoin Well Settles Debt in Shares, Closes $12.5 Million Private Placement and Grants Stock Options

Bitcoin Well Inc. has moved to strengthen its balance sheet by settling an aggregate C$354,001.50 of various interest and sponsorship obligations through the issuance of common shares, a transaction that remains subject to TSX Venture Exchange approval and will see all new shares subject to a four-month-plus-one-day hold period. The company also closed a private placement of 122,471,380 units for gross proceeds of approximately C$12.49 million, split between cash and bitcoin contributions, and granted 8,292,500 stock options to directors, officers and consultants under its omnibus equity incentive plan, measures that collectively bolster liquidity, align insiders’ incentives with shareholders and support ongoing operations and strategic growth in the non-custodial bitcoin space.

The most recent analyst rating on (TSE:BTCW) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Bitcoin Well Inc stock, see the TSE:BTCW Stock Forecast page.

Bitcoin Well Inc. Reports Strong Revenue Growth Amidst Continued Net Losses

Bitcoin Well Inc. reported a significant increase in revenue for Q3 2025, reaching $34 million, a 62% rise from the previous year. This growth was driven by substantial increases in its Online Bitcoin Portal and Bitcoin Well Infinite segments. Despite the revenue growth, the company reported a net loss of $4.1 million for the quarter, primarily due to unfavorable fair value changes related to cryptocurrency loans. The company also announced the settlement of C$212,599 in interest on convertible debentures through the issuance of common shares, reflecting its ongoing efforts to manage debt.

Bitcoin Well Extends Private Placement Offering with Second Tranche Anticipated

Bitcoin Well Inc. has announced a 30-day extension granted by the TSX Venture Exchange for the completion of its private placement offering, with a second tranche expected to close by November 28, 2025. The proceeds from this offering are intended to bolster the company’s strategic Bitcoin reserve, working capital, and general corporate purposes, potentially enhancing its market position and operational capabilities.

Bitcoin Well Expands Bitcoin Treasury with Recent Acquisition

Bitcoin Well Inc. has announced the addition of approximately 1.246 bitcoin to its treasury, using funds from a recent financing round. This acquisition brings the company’s total bitcoin reserve to 69 BTC, reflecting its commitment to strengthening its position in the cryptocurrency market and enhancing its financial strategy.