Bitcoin Well Reports Strong U.S. Market Traction

(TheNewswire)

This news release constitutes a“designated news release” for the purposes of the Company’sprospectus supplement dated March 28, 2025, to its short form baseshelf prospectus dated March 6, 2025

Edmonton, Alberta – TheNewswire - April 6, 2026 – Bitcoin WellInc. (“Bitcoin Well” or the “Company”)(TSXV: BTCW; OTCQB:BCNWF), the non-custodial bitcoin business on amission to enable independence, today provides an update on theCompany's US market development, highlighting strong earlyindicators of product-market fit and a near-term growth opportunity.The Company also announces the settlement of debt and a quarterlyupdate on shares issued under the at-the-market equity Program (the“ATM Program”).

US Growth Update

Product Market Fit in the UnitedStates – Our Bitcoin Portal is continuing tobuild momentum in the United States, with the platform generating overUSD $9 million in transaction volume from January 2025 through March2026, driven by a user base that grew from approximately 11,000registered users in 2024 to over 20,000 as of March 31, 2026. Theinternal data indicates that customers who complete their firsttransaction demonstrate strong loyalty, with repeat transaction ratesexceeding 65%.

The ConversionOpportunity – Of the Company's growing USregistered customer base, roughly 10% have completed an initialtransaction to date. Management views the gap between registered andactive customers as one of the highest-return growth opportunitiesavailable to the Company, one that requires optimizing the existingonboarding funnel rather than net-new customer acquisition. Withdemand already demonstrated at the top of the funnel, the focus issquarely on activation.

High-Velocity Recurring Revenue– Once a US customer transacts for the firsttime, repeat transactions follow quickly.  The internal metrics showthat over 60% of repeat customers initiate the second transactionwithin seven days of their first, a velocity that management expectswill generate a compounding stream of recurring revenue as the USconversion rate improves.

"The US opportunity is right in front of us,"said Adam O'Brien, founder and CEO of Bitcoin Well. "As theonly non-custodial bitcoin platform in the USA, we can see ourdifferentiator bearing fruit. The early success of the US entry showsthat once a US customer transacts, they come back fast. Our focus in2026 is simple: get more US customers through the door, and let theproduct do the rest."

Share Issuances

Shares for Debt Settlement

The Company is indebted to certain creditors in thetotal amount of $202,358, as of March 31, 2026 (the “Use of Coin and Debenture InterestDebt”), pursuant to certain use of bitcoinagreements and a convertible debenture agreement (collectively, the“Agreements”). The Use of Coin and Debenture Interest Debt representsinterest accrued under the Agreements. Bitcoin Well has elected tosettle $88,545 by issuing 1,106,815 common shares in the capital ofthe Company (the “Shares”) at a deemed price of $0.08 perShare, and to settle $113,813 by issuing 1,778,320 Shares at a deemedprice of $0.064 per Share.

The settlement of the Use of Coin and DebentureInterest Debt through the issuance of Shares (the “Debt Settlement”)remains subject to the approval of the TSX Venture Exchange (the“TSXV”) and will be subject to a statutory hold period of fourmonths and one day from the date of issuance, in accordance withapplicable securities laws.

A director of the Company participated in the DebtSettlement through a wholly owned subsidiary. Such participation willbe considered to be a "related party transaction" within themeaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions ("MI 61-101").

The Company intends to rely on the exemptions from theformal valuation and minority shareholder approval requirements of MI61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 inrespect of the related party participation in the Debt Settlement asneither the fair market value (as determined under MI 61-101) of thesubject matter of, nor the fair market value of the consideration for,the transaction, insofar as it will involve interested parties, isexpected to exceed 25% of the Company's market capitalization (asdetermined under MI 61-101).

Quarterly ATM Program Update

Bitcoin Well also provides a quarterly update withrespect to the Company’s previously announced ATM Program, launchedon March 28, 2025. The ATM Program allows the Company to issue andsell, from time to time, up to $5,000,000 of Shares from treasury tothe public, at the Company’s discretion, pursuant to an equitydistribution agreement between the Company and Haywood Securities Inc.(the “Agent”).

During the quarter ended March 31, 2026, the Companyissued a total of 850,000 Shares on the TSXV at an average price of$0.12 per Share under the ATM Program, providing gross proceeds of$102,328. Commissions and other related costs of $4,700 were paid tothe Agent in connection with these distributions, resulting in netproceeds to the Company of $97,628. The Company intends to use thesefunds for general working capital and to buy bitcoin as part of itsBitcoin Treasury Strategy.

For further details on the ATM Program, see theCompany’s news release dated March 28, 2025.

Share Issuance

Bitcoin Well also announces that,further to its news release dated March 5, 2026, the Company hasreceived approval from the TSXV and has issued 682,100 Shares at adeemed price of C$0.09 per Common Share in settlement of debt owed toa creditor under a sponsorship agreement (the “Sponsorship Agreement Debt”). All Common Shares issued as settlement for theSponsorship Agreement Debt are subject to a statutory hold period offour months and one day.

About Bitcoin Well

Bitcoin Well is on a mission to enable independence. Wedo this by making bitcoin useful to everyday people to give them theconvenience of modern banking and the benefits of bitcoin. We like tothink of it as future-proofing money. Our existing Bitcoin ATM andOnline Bitcoin Portal business units drive cash flow to help fund thismission.  

Join our investor community and follow us onNostr, , and tokeep up to date with our business.

Bitcoin Well contact information

For additional investor & media information, pleasecontact:

Adam O’Brien

Tel: 1 888 711 3866

ir@bitcoinwell.com

Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease.

Forward-lookinginformation 

Certain statements contained in thisnews release may constitute forward-looking information, which isoften, but not always, identified by the use of words such as"anticipate", "plan", "estimate","expect", "may", "will","intend", "should", or the negative thereof andsimilar expressions. All statements herein other than statements ofhistorical fact constitute forward-looking information including, butnot limited to: (i) statements regarding the Company’s U.S. marketdevelopment, including statements regarding product-market fit,customer engagement, customer conversion and activation initiatives,optimization of the onboarding funnel, and the timing, magnitude orsustainability of any increase in active users, transaction volume,transaction fee revenue, recurring revenue or growth opportunities inthe United States; (ii) statements regarding the Company’s strategyand priorities in 2026 and the expected outcomes thereof; (iii)statements regarding the Debt Settlement, including the receipt ofTSXV’s approval, and the Company’s intention to rely on exemptionsunder MI 61?101; and (iv) statements regarding the Company’sability to sell Shares from time to time under its ATM program and theCompany’s intended use of proceeds therefrom.

Forward?looking information isbased on a number of material assumptions, including, withoutlimitation, that the Company will be able to successfully execute itsU.S. growth initiatives, including improving conversion and activationof registered users and maintaining customer engagement; that demandat the top of the onboarding funnel will continue and that changes tothe onboarding experience will have the intended effects, that marketconditions permit sales under the ATM program at acceptable prices;and that the TSXV will approve the Debt Settlement on substantiallythe terms described.

Forward-looking information involvesknown and unknown risks, uncertainties and other factors that maycause actual results or events to differ materially from thoseanticipated in such forward-looking information including, but notlimited to, the Company’s inability to increase conversion ofregistered users to active users, or to sustain customer engagement ortransaction velocity; changes in customer preferences or competitivedynamics in the U.S. market; the effectiveness of the Company’sonboarding and product improvements; volatility in cryptocurrencymarkets (including bitcoin prices) and its effect on adoption and theCompany’s treasury strategy; potential dilution and market impactsfrom securities issuances under the ATM program; and the risk that theTSXV may not approve the Debt Settlement. Additional information aboutrisks is described under “Risk Factors” in Bitcoin Well’s annualinformation form and management’s discussion and analysis for theyear ended December 31, 2025. Forward-looking information should notbe unduly relied upon.

Any forward-looking informationcontained in this news release represents Bitcoin Well’sexpectations as of the date hereof and is subject to change. BitcoinWell disclaims any intention or obligation to revise anyforward-looking information, except as required by applicablesecurities legislation.

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