Reno, NV, April 29, 2024 (NEWSWIRE) — Bullet Blockchain, Inc. (“BULT” or the “Company”), a leader in blockchain software development and patented Bitcoin ATM technology, is delighted to report that its fourth-quarter gross revenue has soared to $819,000, marking an increase of over 10% from the $740,000 forecasted in December 2023. The Company’s annual gross revenue has similarly exceeded expectations, reaching a total of $1,685,000 for the year.
Recent research published by ResearchandMarkets.com, titled Crypto ATM Market Size, Share & Trends Analysis Forecasts, 2023 – 2030, stated that “the global crypto ATM market size is expected to reach USD $5,5 Billion by 2030, growing at a CAGR of 62.5% from 2023 to 2030. Several countries such as Central African Republic and El Salvador recognize Bitcoin as legal tender which will contribute to the use of crypto ATMs over the forecast period. The market growth can be attributed to the growing use of cryptocurrencies for making payments at several retail stores.
“The rise in the number of prominent retail stores installing crypto ATMs is expected to be a major contributor to the growth of the crypto ATM industry. In March 2023, Giant Eagle supermarket’s café arm under GetGo Café + Market announced plans to install online Bitcoin ATMs in more than 125 locations across the U.S. Similarly, prominent chains such as Circle K, 7-Eleven, and Shell have ramped up the demand for online Bitcoin ATMs.
“Leading cryptocurrencies' popularity and potential growth prospects are expected to bode well for market growth. According to data provided by Coin ATM Radar, an online Bitcoin ATM information provider, globally, nearly 23 Bitcoin ATMs are installed daily. Thus, the growing use of cryptocurrencies such as Bitcoin and Ethereum is expected to create growth opportunities for the crypto ATM industry over the forecast period.”
Simon Rubin, CEO of Bullet Blockchain, commented, “Our Bitcoin ATMs have significantly outperformed expectations in the fourth quarter, buoyed by the anticipation surrounding Bitcoin ETF trading and the Bitcoin halving event. These factors created a highly favorable environment, and we are excited about the potential for continued growth and prosperity in 2024.”
Recruitment Drive and Operational Expansions
As part of its expansion strategy, Bullet Blockchain is actively seeking a Chief Financial Officer and marketing experts with a background in cryptocurrency to join the team. Interested candidates are encouraged to apply by sending their resumes to jobs@bulletblockchain.com.
Following the strategic acquisition of a portfolio of Bitcoin ATMs, the Company has successfully deployed added 10 licensed machines across the new state of Georgia. This marks the initial phase of a broader plan to deploy and brand an additional 30 Bitcoin ATM kiosks. 'With our rapidly forged partnerships, we anticipate 2024 to be a transformative year for Bullet Blockchain. Our focus will remain on leveraging and monetizing our patented Bitcoin ATM technology,' added Rubin.
Licensing and Intellectual Property Developments
Bullet Blockchain continues to advance its licensing initiatives, offering operators and manufacturers a variety of partnership models including transaction-based fees and revenue-sharing opportunities centered around its intellectual property. Following the acquisition of First Bitcoin Capital LLC, $BULT now owns exclusive rights to critical Bitcoin ATM patents, US Patent Nos. US9135787B1 and US10332205B1, essential for the operation of Bitcoin ATM networks. The Company is committed to licensing these patents and addressing any unlicensed uses within the industry.
This is probably the source of the revenue claimed in Bots' April 25, 2024 8-K...
I hope this letter finds you well. As we reflect on the past year and look ahead to the future, I want to take this opportunity to share some insights into our company's performance, the challenges we faced, the strategic decisions we made, and what lies ahead for Bots, Inc. (BTZI). While we have not executed on our plan to pay a dividend in the shares of Bullet Blockchain, Inc. (OTC:BULT), we may first pay dividends in some of the cryptocurrencies that we have accumulated.
Financial Performance on a consolidated basis
This past year has been a period of significant growth and challenge for our industry. At Bots, Inc., we have navigated these waters with a keen focus on innovation and efficiency, leading to notable financial achievements. Our increased revenue reflects our commitment to delivering value to our customers and shareholders alike. While we faced challenges, our team's resilience and strategic pivots have kept us on a path of sustainable growth. We project that our upcoming April 30 2024 yearend report will include more than $1,000,000 in revenues.
Strategic Highlights
These initiatives reflect our commitment to staying at the forefront of blockchain technology, AI, robotics and expanding our market presence. Our efforts to streamline operations and enhance our product offerings have positioned us well to capitalize on emerging opportunities.
Future Outlook
Looking ahead, we are excited about the future of Bots, Inc. We are poised to explore new markets, further innovate our product lines, and strengthen our customer relationships. Our strategic plan for the coming year includes expanding into new markets, investing in R&D, enhancing customer service. We believe these steps will drive our growth, enhance shareholder value, and solidify our position as a leader in our industry.
Acknowledgment
I want to extend my deepest gratitude to our affiliates, whose dedication and hard work have been pivotal to our success. To our customers and partners, thank you for your continued trust and collaboration. And to you, our shareholders, thank you for your ongoing support and belief in our vision. Together, we are building a stronger, more resilient Bots, Inc.
As we move forward, we remain committed to transparency, accountability, and open communication. We are excited about the opportunities ahead and are confident in our ability to navigate the future and deliver value to all our stakeholders.
Thank you for your continued support.
Sincerely, Simon Rubin, CEO
The $1,000,000 in revenue to be reported in the annual Bots report is probably their share of the revenue reported by Bullet Blockchain
