BitNational Acquires Bitcoin Brokerage Bitcoin Brains for $2.1 Million

BitNational has acquired Calgary-based Bitcoin Brains, a deal that will make BitNational the largest over-the-counter bitcoin brokerage and ATM network in Canada. The companies signed a 10-year, $2.1 million dollar agreement.

The acquisition of Bitcoin Brains will allow BitNational to bring a variety of new ways to purchase bitcoins anywhere in Canada. “This is an important step towards our goal of building a nationwide network to give all Canadians easy, instant access to bitcoins,” said BitNational co-founder Matt Haddon.

BitNational operates bitcoin ATMs in three cities in western Canada.

Bitcoin brokerage support

Bitcoin Brains began as a bitcoin brokerage in 2013.

“Our goal has always been to provide the safest and easiest access to bitcoins for Albertans. This deal makes it easier than ever to buy bitcoins anywhere in western Canada. The guys from BitNational offer the kind of knowledgeable, professional service that our customers have come to expect,”

commented Dave Bradley of Bitcoin Brains.

The acquisition was secured by deposit paid to a two of three multi-signature bitcoin address. Each party controls one private key while a neutral third party controls the third key.

Official launch soon

The official launch party of the new BitNational network will be announced within the next week. BitNational lists its areas of operation, the location of its bitcoin ATMs and merchants in Vancouver and British Columbia that accept bitcoin on its website, bitnational.com.

Bitcoin Brains, in addition to its brokerage services, offers bitcoin and altcoin miners from a variety of manufacturers.