![]() Bitcoin Well believes that Ghostlab has sufficiently de-risked the software to the point where it can now directly contribute to the service offerings provided by Bitcoin Well. ![]() ![]() Ghostlab’s proprietary ATM software enables bitcoin to be more accessible to the average person, and more importantly, makes it easier for operators to manage their businesses. Read More: Grayscale Investments Doubles Its Suite of SEC Reporting Investment Products Strategic Importance of Ghostlabĭeploying Ghostlab software allows an ATM operator’s customers to access bitcoin, thereby benefitting from additional functionality within existing businesses, hardware, and platforms. In addition, our Ghostlab division is constantly engaged in R&D to provide long-term, innovative solutions to support an increasingly digital economy.” “Given there is a natural timing difference between the capital investment into machines and the revenue returns, being able to deploy Ghostlab onto existing cash ATMs means we have the opportunity for revenue without high capital costs. “Bringing Ghostlab fully in-house, positions Bitcoin Well to further expand our products and services, and affords the potential to create incremental revenue streams without the high capital requirements associated with buying, branding and deploying new machines,” said Adam O’Brien, CEO of Bitcoin Well. The common shares are subject to a statutory four month hold period. Total consideration for the Acquisition was based on an enterprise value of up to $3.2 million, satisfied through the issuance of 2,758,621 common shares of Ghostlab at a price of $0.29 per common share, the closing price on the 11 th trading day of the issuer, the assumption of debt of $1.8 million and the provision of an earn-out, all as more particularly described in the Company’s Augpress release. Bitcoin Well Inc., is pleased to confirm that it has closed the previously announced acquisition of Ghostlab Inc., a software company that designs and develops software to improve the functionality and accessibility of modern financial technology and services, including Bitcoin ATM machines.
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