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LAS VEGAS - Bitcoin Bancorp (OTC:BULT), formerly known as Bullet Blockchain, Inc., announced Thursday its immediate rebranding as part of its strategy to expand its Bitcoin ATM network and financial technology services. The company, with a current market capitalization of $22.5 million, has seen its stock price rise nearly 25% over the past six months, according to InvestingPro data.
The company, which operates in the cryptocurrency sector, stated the name change reflects its focus on Bitcoin-powered services and its proprietary ATM network. Bitcoin Bancorp holds two U.S. patents related to Bitcoin ATM technology that it describes as "critical to the operation of Bitcoin ATMs across North America." Trading at $0.06 per share, the stock currently sits 44% below its 52-week high of $0.10.
According to the company’s press release, Bitcoin Bancorp is expanding its network of over 200 Bitcoin ATMs that allow users to purchase and sell cryptocurrencies using cash, debit, or credit cards. InvestingPro analysis reveals the company maintains a "Fair" financial health score, though it faces challenges with weak gross profit margins. Subscribers can access 6 additional ProTips and detailed financial metrics on the platform.
"Our rebrand better reflects our strategic vision to shape the future of Bitcoin-powered services," said Eric Noveshen, Interim CFO of Bitcoin Bancorp, in the statement.
The company referenced recent U.S. government initiatives including Executive Order 14233, signed in March 2025, which established a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile. The order directed the Treasury Department to manage approximately 200,000 Bitcoin valued at roughly $17 billion, primarily accumulated through criminal and civil forfeitures.
Bitcoin Bancorp also announced plans to offer additional services including stablecoin withdrawals, digital wallets, bill payment options, and remittance services. The company mentioned a partnership with Tangem.com to enhance its secure crypto wallet offerings.
The company has filed its name change with Nevada’s Secretary of State and plans to file required updates with FINRA in coming weeks. Bitcoin Bancorp indicated that shareholders will experience no disruption, with ticker symbol updates to be announced. Despite recent volatility, with the stock down 10% in the past week, year-to-date returns remain positive at 11%.
The announcement was made in a company press release.
In other recent news, Bullet Blockchain, Inc. announced a partnership with Tangem, a Swiss-based hardware wallet provider, to distribute secure cryptocurrency wallets to its customers. This collaboration will enable Tangem users to access cryptocurrency trading and other services through Bullet Blockchain’s network. Tangem’s hardware wallets utilize Near Field Communication technology and support over 16,000 cryptocurrencies across more than 85 blockchains. Additionally, Bullet Blockchain has outlined a strategic growth plan focused on expanding its Bitcoin ATM network operations across the United States. The company, which is one of only three publicly traded Bitcoin ATM network operators in the U.S., has laid out initiatives centered on operational expansion, leadership enhancement, capital acquisition, and strategic partnerships. These developments highlight Bullet Blockchain’s efforts to strengthen its position in the cryptocurrency sector.
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