Bitcoin Well settles debt in August 2026 update
(TheNewswire)
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Edmonton, Alberta – September 3, 2026 – TheNewswire - Bitcoin Well Inc. (“Bitcoin Well” or the “Company”) (TSXV: BTCW; OTCQB: BCNWF), the publicly traded non-custodial bitcoin company on a mission to enable independence, today reported preliminary operating results and business updates for August 2026.
Key Highlights
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Gross profit surpassed $265,000 in August 2026 ($295,000 in July 2026; $546,000 in August 2025)
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Total customer base surpassed 80,500 (79,000 at end of July 2026; 59,900 at end of August 2025)
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Yearly active users surpassed 12,600 (13,111 at end of July 2026; 11,824 at end of August 2025)
We believe the decline in Gross Profit is due to the bitcoin overall market sentiment. The bitcoin price in August 2025 was $108,000 USD on its way to the eventual all time high in October 2025. In August 2026 the bitcoin price opened the month at $63,000 USD and closed near $80,000 USD.
Key Advancements
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Continued work of the Bitcoin IRA (schedule to launch in Q3 2026)
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Improvements to the Bitcoin Well Infinite portal
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Security improvements
We spent the month of August continuing to develop the Bitcoin IRA which will give our American customers the ability to buy bitcoin inside tax-advantaged structures. We expect the launch of the IRA (scheduled Q3 2026) to give the Company a significant boost of customer acquisition and customer spend into the final quarter of the year.
Further, we have made some minor improvements to the Bitcoin Well Infinite portal which serves our large transaction clientele. We expect the continued improvements of the Bitcoin Well Infinite portal will further encourage growth to our Bitcoin Well Infinite sales.
The security improvements were a direct response to the unprecedented amount of attacks and hacks the entire Bitcoin ecosystem has seen. Bitcoin Well is pleased to report the Company has suffered no losses as a result of these attacks.
“I am very proud of the way the team put their heads down and helped keep our Company safe and secure in August.” said Adam O'Brien, Founder and CEO of Bitcoin Well. “We continued to build meaningful products in the IRA which will launch shortly and responded swiftly to a serious number of indirect attacks on software we rely on. To finish off the month, we saw a huge spike in customer activity and volume due to the increase in the price of bitcoin. Bear markets are for building, bull markets are for capitalizing and our team is ready for both!”
Debt Settlement
The Company also announces that it was indebted to a certain creditor in the amount of $84,048.00, as of August 31, 2026 (the "Indebtedness"), pursuant to a sponsorship agreement (the "Sponsorship Agreement"). The Indebtedness represented payments for services accrued under the Sponsorship Agreement during the period from March 1, 2026 to July 31, 2026, and were not considered investor relations services (as defined in the policies of the TSX Venture Exchange (the “TSXV”). The Company has entered into a debt settlement agreement with the creditor, pursuant to which the parties agreed that the Indebtedness would be settled through the issuance of 2,101,200 common shares of the Company (the “Common Shares”) at a deemed price of $0.04 per Common Share. The creditor is an arm's length party to the Company and the issuance of the Common Shares in connection with the debt settlement did not result in the creation of a new Insider or Control Person of the Company (as such terms are defined in the TSXV's policies).
The debt settlement remains subject to the approval of the TSXV and the securities issued in connection with the debt settlement are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr, , and to keep up to date with our business.
Bitcoin Well contact information
For additional investor & media information, please contact:
Adam O’Brien
Tel: 1 888 711 3866
Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well's annual information form and management's discussion and analysis for the year ended December 31, 2025. Forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents Bitcoin Well's expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.
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