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Associated Press
3 days ago
- Business
- Associated Press
Heritage Distilling Announces Bitcoin Bourbon: Limited-Edition Crypto-Inspired Whiskey Launch & 1 BTC Giveaway
GIG HARBOR, Wash., June 03, 2025 (GLOBE NEWSWIRE) -- Heritage Distilling Holding Company, Inc. (NASDAQ: CASK), the most awarded craft distillery in North America for the past ten years, today announced the upcoming launch of Bitcoin Bourbon ™: a limited-edition Kentucky straight bourbon whiskey designed to celebrate the spirit of decentralization, the rise of digital currency culture and the future of digital payments for e-commerce retailers. This release coincides with Heritage's newly adopted Cryptocurrency Treasury Reserve Policy, under which the company will accept Bitcoin (BTC) as a form of payment and may hold BTC as a strategic asset. Bitcoin Bourbon will be released at a bold 106.15 proof, reflecting both the strength of the whiskey and alluding to the often-used term of '6.15' in Bitcoin parlance as a sign of financial freedom. Crafted to meet the expectations of modern consumers, it represents a fusion of 'old-world' distilling and 'next-gen' commerce. 'With Bitcoin Bourbon, we're blending centuries of whiskey-making culture with the frontier mindset of crypto adopters,' said Justin Stiefel, Co-Founder and CEO of Heritage. 'We believe in meeting our customers where they are—and increasingly, they're asking to pay with digital assets.' To mark this launch, Heritage is offering a chance to win one full Bitcoin through the Bitcoin Bourbon 'Bitcoin Giveaway': 'This isn't just about what's in the bottle,' added Matt Swann, Chair of Heritage's Technology and Cryptocurrency Committee. 'It's about aligning with a values-driven community that believes in ownership, transparency, and innovation. Bitcoin Bourbon is an invitation to drink with purpose.' The product will be available exclusively through Heritage's direct-to-consumer e-commerce platform, with Bitcoin as a supported payment method. The company plans to unveil final product details, including age and mash bill, closer to the official release. This initiative is part of a broader digital commerce strategy driven by Heritage's cryptocurrency policy and commitment to pioneering new methods of customer engagement. About Heritage Distilling Company, Inc. Bitcoin Bourbon™ is part of the company's broader strategy to integrate cryptocurrency into its operations. Heritage is among the premier independent craft distilleries in the United States, offering a variety of whiskeys, vodkas, gins, rums, and ready-to-drink canned cocktails. Heritage has been North America's most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce, and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American tribes, focuses on developing Heritage-branded distilleries, unique tribal brands, and tasting rooms tailored to tribal communities. By serving patrons of tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating tribes, while providing an additional avenue for tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage's commitment to innovation, community engagement, and sustainable growth. Forward-Looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as 'aims,' 'anticipates,' 'believes,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'goal,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'seeks,' 'will,' and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Any forward-looking statements in this press release are based on Heritage's current expectations, estimates, and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks associated with the development and release of the Bitcoin Bourbon product, the success of the pre-release sign-up campaign and associated contest, any liabilities created by sponsoring the contest, the impact of any new or anticipated business developments that would be expected to result therefrom, and other risks described in Heritage's registration statement on Form S-1, and its quarterly 10-Q and annual 10-K filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law. Investor Contact: (800) 595-3550 [email protected]
Business Mayor
19-05-2025
- Business
- Business Mayor
Heritage Distilling Now Accepts Bitcoin and Will Hold It as a Company Asset
Yesterday, Heritage Distilling Holding Company, Inc. (NASDAQ: CASK), a leading U.S. craft spirits producer, announced that it will begin accepting Bitcoin as payment through its direct-to-consumer (DTC) e-commerce platform and will hold bitcoin as strategic assets under a newly approved Cryptocurrency Treasury Reserve Policy. The policy, approved by the company's Board of Directors as part of a broader sales and treasury diversification strategy, was developed by the Technology and Cryptocurrency Committee, chaired by tech and digital payments leader Matt Swann. The move makes Heritage the first in the craft spirits sector to formally integrate bitcoin into both its payment and treasury operations. 'A new age of commerce is emerging, with cryptocurrencies leading the way to reduce friction between parties, buyers and sellers of goods and services,' stated Matt Swann on behalf of the Board. 'Having been immersed in the convergence of technology and currencies for nearly two decades, it is exciting to see Heritage forge headfirst into the opportunity to combine the power of the consumer and cryptocurrency.' Heritage's decision comes amid rapidly growing public interest in digital assets. The company said it estimates that between 65 to 86 million Americans currently hold Bitcoin and crypto, and realizes the opportunity Heritage has to acquire more BTC by accepting it as payment. 'Heritage has always been an innovator and once again we are leading the way in the craft spirits space as we prepare to accept Bitcoin and Dogecoin as a form of payment for online e-commerce sales and to acquire and hold these cryptocurrencies as assets,' commented the CEO of Heritage Justin Stiefel. 'As I have noted in the past, unlike traditional investors who purchase crypto with cash and are immediately subject to potential pricing volatility, as a company producing goods for sale, acceptable margins between the retail price of our products and their cost of production is expected to offset potential fluctuations in the value of cryptos we accept as payment. This provides us considerable financial flexibility as we develop product offerings for users and enthusiasts of these fiat alternatives.' Read More Live Election Day Coverage for Bitcoiners The company sees Bitcoin as a long-term strategic asset and a forward-looking step in connecting with modern consumers while also exploring new efficiencies in financial operations. Heritage is not only integrating Bitcoin as a payment method but also incorporating it into its treasury strategy. The new Cryptocurrency Treasury Policy can be found here. READ SOURCE
Yahoo
29-04-2025
- Business
- Yahoo
Heritage Distilling moves into black in 2024
Heritage Distilling Company achieved profitability for the first time in 2024, the US spirits producer has announced. The company generated a net income of $710,458 last year, versus a net loss of $36.8m in 2023. Net sales rose 5.4% to $8.4m. The growth was driven by a 28.8% increase in product sales, which Heritage Distilling said was largely due to the launch of the Special Operations Services product line in 2023. Gross profit dipped by 1.4% year-on-year to $2.2m. The company also achieved positive EBITDA for the first time, with that metric reaching $4.5m, compared to a loss of $32.8m in 2023. Heritage Distilling co-founder and CEO Justin Stiefel said: '2024 was a transformative year for Heritage. We successfully transitioned from a private company to a publicly traded company with our IPO in November, marking our debut on Nasdaq. 'This move strengthened our balance sheet, significantly reduced our liabilities, and put us in a position to grow significantly.' Alongside achieving profitability last year, Heritage also entered Colorado, Kentucky, and Oklahoma and introduced new products. Looking ahead, the spirits maker said it anticipates incurring operating losses and increased operating expenses as it invests in inventory, digital marketing. The investment is intended to support the online direct-to-consumer sales of its 'high-margin' Salute Series line of 'super premium' whiskeys and overall business growth, the statement added. In February, the company secured a $15m equity line of credit, gaining 'access to more capital to help sustain and accelerate its growth'. Additionally, management identified over $1m in annualised expense reductions for this year, following more than $1m in cost savings already achieved in 2024, as part of its efforts to become 'more efficient, preserve cash and focus on products and activities leading to sustained profitability'. Stiefel added: 'With a solid financial foundation from which to build, Heritage is poised for continued expansion in 2025, with preliminary first quarter 2025 results already looking promising.' In December, Heritage Distilling appointed two drinks industry stalwarts to board roles. Former Starbucks COO Troy Alstead joined the company's board of directors while Andrew Varga transitioned from his role as chief revenue officer to become director. "Heritage Distilling moves into black in 2024" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
27-03-2025
- Business
- Yahoo
Heritage Distilling Co. Cocoa Bomb Chocolate Whiskey Named 'World's Best Flavored Whiskey' at Whisky Magazine's World Whiskies Awards
Marks an unprecedented third win for Heritage Distilling Co. in this prestigious categoryGIG HARBOR, Wash., March 27, 2025 (GLOBE NEWSWIRE) -- Heritage Distilling Holding Company, Inc. ("HDC" or "Heritage") (Nasdaq: CASK), a leading craft distiller of innovative premium brands, announced that its Cocoa Bomb Chocolate Whiskey was named 'World's Best Flavored Whiskey' by Whisky Magazine at the World Whiskies Awards in London, England. Previously, Heritage has won Whisky Magazine's 'World's Best Flavored Whiskey' twice for Brown Sugar Bourbon. "We are incredibly proud to have earned this prestigious global honor for the third time from the tasting panel at Whisky Magazine,' said Justin Stiefel, CEO and co-founder of Heritage. 'Cocoa Bomb Chocolate Whiskey's global flavor award from one of the most respected whiskey publications in the world is a testament to the dedication and craftsmanship our team pours into every bottle. Every whiskey we create captures the essence of true, authentic flavors, and this latest global award is proof of our efforts. To win this global category award for a third time is unprecedented in the global spirits industry, further solidifying our leading position in the rapidly growing flavored whiskey market.' Cocoa Bomb Chocolate Whiskey is bottled at 75-proof and is naturally flavored. No artificial flavors, sweeteners or ingredients are used. Flavor notes include a burst of semi-sweet dark cocoa, cocoa nibs and a rich chocolate nose with a smooth signature whiskey finish. Cocoa Bomb Chocolate Whiskey is available in 750 ml and 50 ml size formats at select spirits retailers. It is also available in HDC tasting rooms and online for direct-to-consumer orders. For more information about Heritage and its suite of award-winning products, visit: About Heritage Distilling Holding Company, is one of the premier independent craft distilleries in the United States, offering a diverse range of whiskeys, vodkas, gins, rums, and ready-to-drink canned cocktails. For ten consecutive years, the American Distilling Institute has recognized Heritage as North America's most awarded craft distillery out of more than 2,600 producers. In addition to winning the 'World's Best Flavored Whiskey' award an unprecedented three times by Whiskey Magazine, the company has also earned numerous Best of Class, Double Gold, and Gold medals at prestigious national and international spirits competitions. As a prominent player in the rapidly growing $288 billion spirits market, Heritage ranks among the largest craft spirits producers on the West Coast by revenue. The company is expanding its national footprint through multiple sales channels, including wholesale, e-commerce, direct-to-consumer (DTC) in 46 states, on-premises venues at its distilleries and tasting rooms, a subscription-based program, and the innovative Tribal Beverage Network (TBN). The TBN initiative is a groundbreaking collaboration with Native American tribes, aimed at developing Heritage-branded distilleries, unique brands, and tasting rooms tailored to patrons of tribal casinos and entertainment venues, creating meaningful economic and social benefits for participating tribes while offering them an opportunity to strengthen their sovereignty and create new amenities for their clients and customers. It reflects Heritage's commitment to innovation, community engagement, and sustainable growth. Heritage also raises donations for carefully vetted non-profits that support active-duty, retired, and injured special operations heroes, veterans, first responders, and their families through its Salute Series line of super-premium whiskeys. Learn more at Forward-Looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding anticipated results or benefits anticipated from awards or accolades received for Heritage's products and the implications that may come from it. Any forward-looking statements in this press release are based on Heritage's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of slowing growth for its online eCommerce sales, interruptions in that market segment, or the availability and pricing of bulk bourbon for its products. These and other risks concerning Heritage's programs and operations are described in additional detail in its registration statement on Form S-1, and its quarterly 10-Q filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law. Investor Contact(800) 595-3550ir@ A photo accompanying this announcement is available at
Associated Press
06-03-2025
- Business
- Associated Press
Heritage Distilling Co. Announces Recent Achievements and Key Milestones for Salute Series Line of Premium Whiskeys
- First half of Q1 2025 ecommerce sales to date have surpassed all Q4 2024 - Battle of Iwo Jima 80th Anniversary limited edition bottle sold out in less than 3 weeks and is on backorder - Company projected to be aggressive and acquire high value bourbon inventory as it comes to market GIG HARBOR, Wash., March 06, 2025 (GLOBE NEWSWIRE) -- Heritage Distilling Company, Inc. ('HDC' or 'Heritage' or the 'Company') (Nasdaq: CASK), a leading craft distiller of innovative premium brands, today announced recent achievements and key milestones for its Salute Series line of products. The Company also announced that projected revenue for fiscal year 2024 is expected to be its highest since 2021. The Company will file full year 2024 financial results on Form 10-K at the end of March 2025. 'With a successful 2024 completed, we are excited about first quarter 2025 sales momentum, especially for our new Salute Series line of specialty whiskeys and premium bourbons,' said Justin Stiefel, CEO and co-founder of Heritage Distilling Co. 'We are seeing tremendous response and growing loyalty to our Salute Series brand, which is designed to honor and support active duty and retired military personnel, as well as first responders and their families. Since its launch in fourth quarter 2023, the Salute Series has sold nearly 2,000 cases overall, the majority of which were sold direct to consumer (DTC) at the highest margin we have ever achieved. Online sales of the Salute Series since launch are more than $2.4 million in just 15 months, a remarkable achieve for a new brand out of the gate. In addition, those purchases by loyal consumers have raised more than $200,000 for Heritage's military and first responder charity partners.' Through the first half of Q1 2025 to date, eCommerce revenues from online sales surpassed fourth quarter 2024 eCommerce revenue. Normally the fourth quarter is the strongest period of the year for most spirits brands, but Heritage's first quarter 2025 eCommerce revenue has already outpaced fourth quarter sales results. 'Our pace of sales is practically unheard of in the spirits world for a new to consumer brand, but it's a good indication that consumers are responding well to the Salute Series line of spirits online,' Stiefel added. 'A similar example of success was the launch of the Battle of Iwo Jima 80th Anniversary limited edition bottle in January, which sold out 2,200 bottles in less than three weeks. We have generated a waiting list due to the demand for the second release of that specialty whiskey, which will be back in stock soon.' The Company is focused on repeat orders as a measure of growing brand loyalty. So far, Heritage's data shows that for online eCommerce orders, almost 30% of the online Salute Series revenue comes from repeat buyers. Not only are the repeat customers buying more bottles, but they are also spending more when they return to shop online. The Company believes that the large number of repeat buyers for its new brand in just over a year is a significant accomplishment and a testament to the quality of the product and the importance of the mission behind the brand. Speaking about the Company's growth plan for the Salute Series, Stiefel provided context on current dynamics in the bourbon and whiskey industry. 'Just as we are seeing broader adoption for our Salute Series line, with increasing purchases and reorders, the cost of high-quality bourbon in bulk is falling fast. More than 14 million barrels of aged bourbon are sitting in Kentucky (the most ever), with reports of a projected 3 million more barrels being laid down this year in Kentucky alone. That growing sea of bourbon must find a home. A significant number of those barrels are owned by speculators, investors and high-net-worth parties and institutions who have no brands, no labels, no distribution, no path to market, no relationship with the consumer, and no viable way to use the product for its highest and best use, which is in the bottle. Like many speculators, when the music stops, they all start scrambling for chairs.' He continued, 'Now that many of those parties are looking for exits, we have entered a bourbon arbitrage period in our favor that we could not have forecast even a year ago. Just as sales and prospects for our Salute Series are growing, the most important and expensive part of our inputs are dropping in price—high-quality bourbon carrying the premium Kentucky moniker. We believe this could allow us to get more aggressive in acquiring high value inventory as it comes to market, such as bulk deals for distributors who want to bring our premium spirits into their states, or potentially increasing our donations to partner charities if margins increase. In short, we do not see a supply shortage for premium bulk bourbon in the near term. 'As always, we thank our customers, vendors, suppliers, partners and stockholders for the faith and support they have given us as we execute on our plans,' Stiefel concluded. About Heritage Distilling Company, Inc. Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been North America's most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American tribes, focuses on developing Heritage-branded distilleries, unique tribal brands and tasting rooms tailored to tribal communities. By serving patrons of tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating tribes, while providing an additional avenue for tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage's commitment to innovation, community engagement and sustainable growth. Forward-Looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as 'aims,' 'anticipates,' 'believes,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'goal,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'seeks,' 'will,' and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding anticipated results or benefits anticipated from awards or accolades received for Heritage's products and the implications that may come from it. Any forward-looking statements in this press release are based on Heritage's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of slowing growth for its online eCommerce sales, interruptions in that market segment, or the availability and pricing of bulk bourbon for its products. These and other risks concerning Heritage's programs and operations are described in additional detail in its registration statement on Form S-1, and its quarterly 10-Q filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
