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Bitcoin Well Inc
(BTCW)
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Rating:45Neutral
Price Target:
C$0.04
▼(-2.50% Downside)
Action:Reiterated
Date:10/15/26
The score is held down primarily by weak financial fundamentals—negative equity, persistent cash burn, and thin/declining profitability—despite some improvement in headline net income. Technicals are only mildly supportive (neutral momentum and still below the 200-day trend), and valuation is unattractive due to the very high P/E with no dividend yield.
Positive Factors
Historical Revenue Expansion
Meaningful revenue expansion through 2025 indicates that Bitcoin Well achieved greater transaction volume or customer adoption over that period. Although the latest run-rate softened, the prior growth provides an established commercial base from which the company can rebuild momentum and improve operating leverage.
Negative Factors
Stretched Balance Sheet
Persistently negative shareholders’ equity and debt exceeding the reported asset base indicate a structurally stretched capital position. This reduces financial flexibility, increases reliance on liabilities, and may constrain the company’s ability to fund growth or absorb operating setbacks without balance-sheet actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Historical Revenue Expansion
Meaningful revenue expansion through 2025 indicates that Bitcoin Well achieved greater transaction volume or customer adoption over that period. Although the latest run-rate softened, the prior growth provides an established commercial base from which the company can rebuild momentum and improve operating leverage.
Read all positive factors
Bitcoin Well Inc (BTCW) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$11.71M
Dividend YieldN/A
Average Volume (3M)103.61K
Price to Earnings (P/E)133.3
Beta (1Y)0.67
Revenue Growth6.48%
EPS GrowthN/A
CountryCA
Employees16
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding292,681,850
10 Day Avg. Volume26,896
30 Day Avg. Volume103,611
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)-3.41
Price to Sales (P/S)0.20
P/FCF Ratio-6.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)C$160.32M
Bitcoin Well Inc Business Overview & Revenue Model
Company Description
Bitcoin Well Inc. is engaged in the acquisition, ownership, and operation of cryptocurrency ATM terminals. Providing both digital and physical channels, the company enables clients to buy and sell Bitcoin and various other digital assets, includin...
How the Company Makes Money
Bitcoin Well makes money primarily by earning fees/spreads on Bitcoin transactions facilitated through its platforms and services. Key revenue streams typically include: (1) transaction-based revenue from buying and selling bitcoin (the company ea...
Bitcoin Well Inc Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
24
Negative
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.42M | 132.96M | 90.51M | 54.53M | 66.73M | 99.61M |
| Gross Profit | 2.92M | 3.67M | 3.97M | 4.83M | 4.42M | 5.17M |
| EBITDA | -4.89M | 2.84M | -14.56M | -8.08M | -1.52M | -12.22M |
| Net Income | 2.33M | -793.16K | -17.78M | -12.02M | -5.99M | -13.60M |
Balance Sheet | ||||||
| Total Assets | 20.69M | 29.91M | 28.02M | 14.91M | 14.02M | 23.56M |
| Cash, Cash Equivalents and Short-Term Investments | 19.08M | 27.71M | 25.25M | 11.89M | 9.95M | 13.40M |
| Total Debt | 31.30M | 36.25M | 39.55M | 23.12M | 18.86M | 15.91M |
| Total Liabilities | 32.73M | 37.77M | 41.02M | 24.06M | 19.86M | 17.57M |
| Stockholders Equity | -12.04M | -7.86M | -12.99M | -9.15M | -5.83M | 5.99M |
Cash Flow | ||||||
| Free Cash Flow | -3.86M | -4.44M | -3.07M | -3.56M | -9.79M | -5.06M |
| Operating Cash Flow | -3.78M | -4.37M | -3.07M | -3.56M | -9.08M | -2.43M |
| Investing Cash Flow | -9.29M | -6.71M | 1.07M | 3.18M | -720.86K | -3.12M |
| Financing Cash Flow | 13.46M | 11.35M | 3.21M | -1.89M | 8.94M | 6.30M |
Bitcoin Well Inc Technical Analysis
Positive
0.04
Price Trends
0.04
Positive
0.04
Negative
0.06
Negative
Market Momentum
<0.01
Positive
51.54
Neutral
83.33
Negative
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 0.04 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 51.54 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$80.99M | -6.14 | -13.93% | ― | -13.15% | 24.49% | |
48 Neutral | C$8.19M | -2.63 | -170.33% | ― | -293.45% | 68.53% | |
45 Neutral | C$11.71M | 133.33 | -27.81% | ― | 6.48% | ― | |
43 Neutral | C$642.50K | -0.33 | -87.90% | ― | 10.57% | 29.77% |
* General Sector Average
TSE:BTCW
Bitcoin Well Inc
0.04
-0.08
-66.67%
TSE:BTC
Bluesky Digital Assets
0.11
0.03
37.50%
TSE:DMGI
DMG Blockchain Solutions
0.39
-0.09
-18.75%
TSE:FRNT
FRNT Financial, Inc.
0.02
-0.26
-92.86%
Bitcoin Well Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Bitcoin Well Launches U.S. Bitcoin IRA as New Revenue Driver
Positive
Oct 16, 2026
Bitcoin Well Inc. has launched the Bitcoin IRA by Bitcoin Well for U.S. customers, allowing retirement savers to hold real bitcoin within Traditional or Roth IRAs. The product is delivered via the company’s existing bitcoin platform, with He...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingProduct-Related Announcements
Bitcoin Well grows user base, advances U.S. IRA product and settles debt with shares
Neutral
Sep 3, 2026
Bitcoin Well Inc. reported that gross profit in August 2026 came in at about $265,000, down from July and from the prior year, which the company attributed to softer overall bitcoin market sentiment compared with the 2025 bull run. Despite the pro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.