CoinStation changes hands
Thursday 18 June 2015
CoinStation, a successful ATM business, has been sold - but will still retain its distinctive look and local appeal.
CoinStation, a Melbourne based Bitcoin ATM business, has been bought by BCF Capital Pty Ltd, an Australian investment management company.
Martin Davidson, a long-term supporter of BitScan, founded the company in 2014 and built it up into a successful bitcoin business. If you’re local to Melbourne, you may recognise CoinStation’s distinctive white and orange ATMs around the city. The current plan is to keep that branding and the existing company website.
Don't worry, R2D2's better-dressed cousin isn't going anywhere
‘Coinstation was my first business giving me the opportunity to explore the bitcoin market and build a solid reputation for offering a quality and essential service - allowing people to easily purchase bitcoin in a fast and secure manner,’ Martin says. The money from the sale of CoinStation gives him room to focus on his new business venture, 'think bitcoin', which offers training, workshops and consultancy for bitcoin businesses and merchant integration. Many of these sessions will be held at the Bitcoin Embassy in Melbourne.
Education and application
‘Bitcoin has many useful applications. However most individuals and businesses are still unaware of how to use the technology and how it can benefit them. think bitcoin looks to address this problem in the market,’ says Martin, who also runs a free ‘bitcoin for beginners’ workshop at the Melbourne Bitcoin Technology Centre in Southbank on Wednesdays from 6pm.'
Meanwhile, BCF Capital seems to be building a solid crypto component to its portfolio. The company has a professional mining pool operation, CoinStack.io, and the acquisition of CoinStation further raises their profile in the bitcoin space. ‘We are thrilled to be taking over Coinstation, which has gained a great deal of positive exposure, featuring in Bitcoin Magazine and other prominent news sites,’ says director Bruno Timpano.
We’ll be watching what both Martin and BCF do in the future - and you’ll no doubt be hearing more from both of them.
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