Bitcoin Well Enables Lightning Network to Sell Bitcoin in the USA and Announces Shares for Debt Settlement

Bitcoin Well Enables Lightning Network to Sell Bitcoin in the USA and Announces Shares for Debt Settlement

(TheNewswire)

Edmonton, Alberta TheNewswire - April 10, 2025 Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces the addition of the Lightning Network for selling bitcoin on the Bitcoin Portal in the USA and a shares for debt settlement.

Lightning Network Addition

Customers can now go directly from bitcoin in their personal Lightning wallets directly to dollars in their bank using the Lightning Network. This will enable smaller transactions with fewer fees for customers of the Bitcoin Portal at bitcoinwell.com, increasing their independence.

Now, when a customer wants to sell bitcoin, they will enter the amount of dollars they want to receive, select their connected bank account, and choose between the Bitcoin and Lightning Network.

Previously, when the customer would sell bitcoin over the Bitcoin Network they had to pay mining fees and wait 4 confirmations before the transfer to their bank was initiated. Now it will happen instantly, with no fees thanks to the addition of the Lightning Network into the Bitcoin Portal at bitcoinwell.com.

Further, due to the non-custodial nature of the Bitcoin Portal, Bitcoin Well customers can hold bitcoin in their wallets longer and benefit from a smoother customer experience. With other platforms the customer would need to fund their bitcoin account balance (which puts their funds at risk), sell the bitcoin and then request the withdrawal to their bank.

From their Bitcoin Well account this happens in one single action. Directly from bitcoin in their personal wallets, to cash in their bank.

Shares for Debt Settlement

The Company is indebted to certain creditors in the total amount of $139,817 as of March 31, 2025 (the "Outstanding Debt"), pursuant to certain use of bitcoin agreements and a convertible debenture agreement (collectively, the "Agreements"). The Outstanding Debt is interest accrued under the Agreements. Bitcoin Well has elected to settle $104,155 of the Outstanding Debt by issuing 801,190 common shares in the capital of the Company (the "Shares") at a deemed price of $0.13 per Share and will settle $35,662 of the Outstanding Debt by issuing 342,903 Shares at a deemed price of $0.104 per Share (the "Debt Settlement"). The Debt Settlement remains subject to TSX Venture Exchange approval. All Shares issued in satisfaction of the Outstanding Debt will be subject to a statutory hold period of four months plus one day.

It is anticipated that a director of the Company will participate in the Debt Settlement through a wholly owned subsidiary. Such participation will be considered to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Debt Settlement as neither the fair market value (as determined under MI 61- 101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it will involve interested parties, is expected to exceed 25% of the Company's market capitalization (as determined under MI 61-101).

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

To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam

For additional investor & media information, please contact:

Adam O'Brien

Tel: 1 888 711 3866

ir@bitcoinwell.com

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 .

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 including, but not limited to, statements in respect of Bitcoin Well's business plans, strategy and outlook. 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, 2024. 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.

Copyright (c) 2025 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

BTCW:CC
The Conversation (0)
Bitcoin Well Receives $0.5 Million Judgment Against Rapid Cash

Bitcoin Well Receives $0.5 Million Judgment Against Rapid Cash

(TheNewswire)

Edmonton, Alberta June 18, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), Bitcoin Well Canada Ltd. (" Bitcoin Well Canada "), a wholly-owned subsidiary of the Company, has received a judgment from the Court of King's Bench of Alberta against Rapid Cash ATM Ltd. (" Rapid Cash " or " Rapid Cash ATM" ) in the amount of $541,988.88, plus costs in the amount of $9,988.15.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bitcoin Well Announces Nostr Integration; Including Bitcoin Purchases Via Direct Message

Bitcoin Well Announces Nostr Integration; Including Bitcoin Purchases Via Direct Message

(TheNewswire)

Edmonton, Alberta May 27, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces a first-of-its-kind Nostr integration to allow Bitcoin Well customers in the USA to purchase bitcoin directly from their Nostr profile.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bitcoin Well Partners With Solo Satoshi To Bring The Bitaxe To The Bitcoin Well Points Store

Bitcoin Well Partners With Solo Satoshi To Bring The Bitaxe To The Bitcoin Well Points Store

(TheNewswire)

Edmonton, Alberta May 15, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces a partnership with Solosatoshi a company dedicated to the advancement of open-sourced Bitcoin mining.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bitcoin Well Expands Rewards Program To Include The Bitcoin Well Points Store

Bitcoin Well Expands Rewards Program To Include The Bitcoin Well Points Store

(TheNewswire)

Edmonton, Alberta May 8, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces the Bitcoin Well points store, an expansion to the existing rewards program.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bitcoin Well Reports 2025 Q1 Financial Results; Q1 Revenue Increased 97% Year Over Year

Bitcoin Well Reports 2025 Q1 Financial Results; Q1 Revenue Increased 97% Year Over Year

(TheNewswire)

Edmonton, Alberta May 6, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence, today announced financial and operating results for the first quarter ended March 31, 2025.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
NorthStar Gaming to Host Q2 2025 Earnings Webinar on August 14th

NorthStar Gaming to Host Q2 2025 Earnings Webinar on August 14th

NorthStar Gaming Holdings Inc. (TSXV: BET,OTC:NSBBF) (OTCQB: NSBBF) ("NorthStar" or the "Company") announces that it will hold an investor webinar on August 14th at 11:00 am EDT following the release of its results for the second quarter of 2025. The Company expects to announce its financial results and file its condensed consolidated interim financial statements for the three- and six-month periods ended June 30, 2025 and associated management's discussion and analysis on August 13, 2025.

NorthStar invites all investors and other interested parties to register for the webinar at the link below. Michael Moskowitz, Chairman and CEO, will be presenting the Company's financial results and an update on current operations and strategic priorities.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Quarterly Activities/Appendix 4C Cash Flow Report

Quarterly Activities/Appendix 4C Cash Flow Report

IODM Ltd (IOD:AU) has announced Quarterly Activities/Appendix 4C Cash Flow Report

Download the PDF here.

NorthStar Gaming Announces Grant of Equity Incentive Awards to Non-Executive Directors in Lieu of Cash Compensation

NorthStar Gaming Announces Grant of Equity Incentive Awards to Non-Executive Directors in Lieu of Cash Compensation

NorthStar Gaming Holdings Inc. (TSXV: BET,OTC:NSBBF) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announced that its Board of Directors approved the grant of equity incentive awards pursuant to the Company's Equity Incentive Plan (the "Plan").

The Company has granted an aggregate of 5,078,913 deferred share units ("DSUs") pursuant to the Plan to non-executive directors of the Company in lieu of cash compensation for their services rendered in 2024. Satisfying the compensation in share-based compensation is part of the Company's ongoing efforts to reduce costs. The DSUs vest immediately and may only be redeemed upon a holder ceasing to be a director of the Company.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Hempalta Secures 90-Day FCC Forbearance Extension as Company Completes Certification of 2024 Carbon Credits

Hempalta Secures 90-Day FCC Forbearance Extension as Company Completes Certification of 2024 Carbon Credits

Company reinforces strategic pivot to carbon credit market with expanded global footprint and verified removals

Hempalta Corp. (TSXV: HEMP) ("Hempalta" or the "Company"), a Canadian-based provider of nature-based carbon credit solutions, is pleased to announce that Farm Credit Canada ("FCC") has granted a 90-day extension to its current forbearance agreement (the "Extension"). The Extension runs to September 30, 2025, providing the Company with critical flexibility as it advances several strategic initiatives, including a planned equipment sale, ongoing carbon credit inventory sales, and new investor engagement efforts.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×