• The Only Non-Custodial Platform in America
• The Conversion Opportunity Is Massive
• A Few Corporate Housekeeping Items
• The Bigger Picture

Let me be direct about something.

There is no other non-custodial Bitcoin platform serving theUnited States right now. Just Bitcoin Well.

That’s not a marketing claim. It’s a market position. And the datafrom Q1 2026 suggests it’s starting to matter.

§The Only Non-Custodial Platform in America

You see, there’s a reason Bitcoin Well’s US Bitcoin Portal isgaining traction. It’s not marketing spend. It’s not a viral moment.It’s product-market fit doing exactly what its supposed to do:pulling people back.

From January 2025 through March 2026, the platform generated over$9 million USD in transaction volume. The registered user basedoubled, growing from roughly 11,000 in 2024 to over 20,000 by theend of Q1 2026. And here’s a number that really matters: more than65% of customers who complete their first transaction come back.

That’s loyalty. Not engineered by a points program or a referralbonus. Earned by a product that does what it says it does: letspeople buy Bitcoin without handing their coins over to a custodian.

Not your keys, not your coins. Americans are figuring this out.Bitcoin Well is the only non-custodial platform in the countrypositioned to serve them.

§The Conversion Opportunity Is Massive

Here’s where it gets interesting.

Of those 20,000+ registered US users, only about 10% havecompleted a transaction. That gap, registered but not yet active, isone of the highest-return opportunities available to the companyright now. No new acquisition budget needed. No expensive adcampaigns. The demand is already there, sitting at the top of thefunnel.

The work is activation. Getting the existing user base through thedoor for that first transaction. Because once they transact, the datasays they come back within a week.

How fast? Over 60% of repeat customers initiate a secondtransaction within seven days of their first. Seven days. That’s nota casual relationship with a product. That’s habit formation. That’sa compounding revenue stream in the making.

As Adam O’Brien put it: “The early success of the US entryshows that once a US customer transacts, they come back fast. Ourfocus in 2026 is simple: get more US customers through the door, andlet the product do the rest.”

That’s the right focus. The product works. Now it’s a distributionproblem and distribution problems are solvable.

§A Few Corporate Housekeeping Items

Beyond the US growth update, Bitcoin Well also disclosed a handfulof financial and corporate updates worth noting for investors.

Debt Settlement: The company is settling $202,358in accrued interest obligations through share issuance rather thancash, with shares issued at prices between $0.064 and $0.08 pershare. This remains subject to TSXV approval. A director participatedthrough a wholly owned subsidiary - disclosed as a related partytransaction and handled within the applicable exemptions under MI61-101.

ATM Program: During Q1 2026, Bitcoin Well issued850,000 shares at an average price of $0.12 under its at-the-marketequity program, generating net proceeds of approximately $97,600.Those funds are earmarked for general working capital and, notably,buying Bitcoin as part of the company’s Bitcoin Treasury Strategy.

Sponsorship Agreement Debt: TSXV has approved thepreviously announced issuance of 682,100 shares at $0.09 per share insettlement of a sponsorship agreement debt. All shares issued underthe debt settlements are subject to a four-month-and-one-daystatutory hold period.

§The Bigger Picture

Bitcoin Well isn’t just a company chasing a market. It’s buildinginfrastructure for financial sovereignty in Canada, and now in theUnited States.

The US Bitcoin market is enormous. The regulatory clarity isimproving. And Bitcoin Well is already there, with a product thatworks, a user base that’s loyal, and a conversion opportunity thatdoesn’t require betting on net-new demand.

The next chapter is activation. And the data suggests the productis ready to do the heavy lifting.

Follow along on Nostr, LinkedIn, Twitter and YouTube to stay current with how this unfolds.

This post contains forward-looking statements. Pastperformance is not indicative of future results. Nothing here isfinancial advice — consult the appropriate professionals beforemaking investment decisions.

Originally published at bitcoinwell.com/blog