Bitcoin ATM provider Bitcoin Well has announced the launch of a private placement financing plan with a target of up to $100 million. The first round has successfully raised approximately CAD 12.49 million, including 37.31 bitcoins. The funds will be used primarily to increase Bitcoin holdings, supplement working capital, and for other corporate purposes. The company plans to raise the financing cap to $150 million based on market demand. Following the completion of the first round, Bitcoin Well's Bitcoin reserves will increase from 11 to over 75 bitcoins, according to founder and CEO Adam O’Brien.
Bitcoin Well Launches $100 Million Private Placement, Completes First Round
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