Bitcoin Well Announces New OTC Offices in Montreal and Winnipeg and Achieves Milestone of Operating 200 Canadian ATMs, Which Was Realized Ahead of Internal Forecasts
November 10 2021 - 7:00AM
Bitcoin Well (the “Company” or
“
BTCW”), a technology company building and
utilizing products that offer safe and easy ways to buy, sell and
use bitcoin, is pleased to announce the grand openings of two new
retail customer focused over-the-counter (OTC) offices in Montreal
(now open) and Winnipeg (opening November 29, 2021). We are also
extremely proud to announce that the Company is now operating our
200th ATM in Canada, a considerable growth milestone for Bitcoin
Well which was realized ahead of our internal forecasts.
Bitcoin Well Expands Further into
Eastern CanadaConsistent with our existing Edmonton and
Calgary retail customer focused OTC offices, our two new retail
locations in Montreal and Winnipeg will feature our white-glove
service approach to customer activations in a comfortable
environment for individuals seeking to transact in larger bitcoin
denominations or learn about bitcoin. Expanding on the success of
our first two offices, these new retail locations are set up to
reach a broader market with a reduced upfront investment. Rather
than securing a storefront that operates during regular business
hours, our local Bitcoin Specialists will work from a full service
office space, with flexible hours to accommodate our customer’s
schedule. This new model is in line with our corporate mission of
making bitcoin accessible and understood. It will give us a greater
opportunity to generate incremental revenue.
“Our strategy to open retail OTC offices via a
full service office space allows us to confirm our assumptions that
these markets will be fruitful, without a significant up-front
capital investment into permanent office space. The next phase to
this approach could be to secure a standalone regional office, like
we have in Edmonton and Calgary, once we have the data to confirm
that such an investment is merited,” said Adam O’Brien, Founder and
CEO of Bitcoin Well. “Our in-person services have proven to be
beneficial in Edmonton and Calgary so far, and we are excited to
find a scalable and capital efficient way to replicate this success
across a multitude of other cities.”
Bitcoin Well Achieves Critical Milestone
of 200 ATMs Operated in CanadaWe are also proud to confirm
that Bitcoin Well has officially reached a key milestone of
operating our 200th bitcoin ATM in Canada. Since our inception in
2013, under the leadership of two of Canada’s original Bitcoin
entrepreneurs, Adam O’Brien and Dave Bradley, Bitcoin Well has
become a trusted voice in Bitcoin usage and education. Operating
200 Bitcoin ATMs nationwide represents a landmark achievement and
serves as a reminder that the continued growth in Bitcoin adoption
represents society’s increasing demand for bitcoin. This growth
comes well in advance of year end, which was the internally
anticipated timeline for reaching these milestones.
“I’m excited that Bitcoin Well continues to grow
more rapidly than anticipated by our internal forecasts and that we
continue to realize our vision, by allowing customers to access
Bitcoin in the fastest and safest way possible,” said Adam O’Brien.
“The white-glove approach offered through our OTC model allows us
to adapt to the customers’ needs and gives our team more
flexibility to proactively connect with the local community, rather
than waiting for them to come to us. We will continue to execute
our aggressive growth strategy by opening additional OTC offices
and expanding our fleet of Bitcoin ATM machines around the
world.”
About Bitcoin WellBitcoin Well
(TSXV: BTCW) offers convenient, secure and reliable ways to buy and
sell bitcoin through a trusted Bitcoin ATM network, white glove in
person service and suite of web-based transaction services. Based
on management’s assessment of publicly-available data, Bitcoin Well
the first publicly traded Bitcoin ATM company in the world, with an
enterprising consolidation strategy to deliver accretive and
cost-effective expansion in North America and globally. As leaders
of the longest-running, founder-led Bitcoin ATM company in Canada,
management of Bitcoin Well brings deep operational capabilities
that span the entire value chain along with access to proprietary,
cutting-edge software development that supports further expansion.
Bitcoin Well is on a mission is to shift the relationship that
society has with money by offering an ecosystem of products and
services that make Bitcoin accessible and understood. This
ecosystem includes non-custodial financial
offerings (both in-person and online); technology development,
including SaaS and internal technology developments through
Ghostlab, the technology arm of the business; and educational
resources designed with the needs of both the customers, and the
industry, in mind.
Sign up for our newsletter and follow us on
LinkedIn, Twitter, YouTube, Facebook, and Instagram to keep up to
date with our business. For OTC location information visit
bitcoinwell.com/appointment/.
Contact Information For
investor information, please contact:
Bitcoin Well10142 82 Avenue NWEdmonton, AB T6E
1Z4bitcoinwell.com
Adam O’Brien, President & CEO or
Dave Bradley, Chief Revenue OfficerTel: 1 888 711
3866 ir@bitcoinwell.com
For media queries and further information, please contact:
Karen Smola, Director of MarketingTel:
587-735-1570k.smola@bitcoinwell.com
Reader Advisory / Forward-Looking
StatementsStatements in this press release regarding
Bitcoin Well which are not historical facts are “forward-looking
statements” that involve risks and uncertainties, such as the
timing of expansion plans and activities, allocation of the
proceeds from the private placement as well as various business
objectives. Such information can generally be identified by the use
of forwarding-looking wording such as “may”, “expect”, “estimate”,
“anticipate”, “intend”, “believe” and “continue” or the negative
thereof or similar variations. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties such as the risk that the
closing may not occur for any reason. Actual results in each case
could differ materially from those currently anticipated in such
statements due to factors such as: (i) adverse market conditions
and (ii) the need for additional financing. Except as required by
law, Bitcoin Well does not intend to update any changes to such
statements.
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