Chinese mining chip designer and Bitcoin (BTC) miner, Bitmain Technologies has made a strategic investment in a global hackathon organizer, DoraHacks. Bitmain, however, has not disclosed the amount of investment. Bitmain is also rumored to be interested in an IPO in Hong Kong.
Elsewhere, the mining hardware manufacturer is planning to invest $50 million in Opera Ltd.’s Initial Public Offering (IPO). A few days ago, the parent company of Opera Software filed an IPO with the US Securities and Exchange Commission (SEC). Opera will most probably use the proceeds from IPO on R&D, working capital, and strategic partnerships.
DoraHacks to gather geek wisdom for solving problems
Bitmain’s headquarter is located in Beijing and its branch offices are located in Hong Kong, Qingdao, Amsterdam, Shenzhen, Shanghai, and Chengdu. Founded in 2013, the Bitcoin (BTC) mining hardware manufacturer was established with the view to use company’s ASIC chip technology for developing and selling the Bitcoin miners.
Through this financing, DoraHacks will be able to continue providing infrastructure and services to geeks and also collect geek wisdom. This wisdom will be used for solving the problems in different industries in an efficient and innovative way. The hacker organization was established in 2014 with the support from Tsinghua University’s Open Wisdom Lab. The mission of this hackathon organizer is to connect the Hackers all over the world to the issues that society and industry are facing.
Apart from Bitmain, 8 Decimals Capital, DoraHacks initiator Zhang, Jiannan, BA Capital, TopHacker Group, and other companies have invested in DoraHacks. The company has created an irreplaceable and unique Hacker Brain for everyone and organized 100 Hackathons involving more than 1000 hackers. Until now this team has solved 1,000 + problems.
Opera selling $50 million to Topspring aka Bitmain
Opera wants to raise $115 million with its IPO so that its American Depository Shares will get listed on the Nasdaq stock exchange. The company is also said to be interested in selling $50 million assets to Topspring Technology Ltd. which is also known as Bitmain. The hardware manufacturer reportedly earned a profit of around $3 to $4 billion in 2017.