Bitmain Leads Strategic Investment In Hackathon Organizer DoraHacks

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Bitmain Technologies, Chinese Bitcoin miner and mining chip designer has led a strategic investment of an undisclosed amount in DoraHacks, a global hackathon organizer.

With this round of financing, DoraHacks will continue to provide services and infrastructure to geeks and gather geek wisdom to solve the problems in various industries in a more innovative and efficient way.

Founded in 2014 with the support of Open Wisdom Lab at Tsinghua University DoraHacks is a global hackathon organizer and hacker organization. Its mission is to connect Hackers around the world to the greatest problems we face in industry and society.

DoraHacks has formed a unique and irreplaceable "Hacker Brain" for the society. More than 100 Hackathons have been organzied where 10000+ hackers involved and more than 1000 problems have been solved.

Founded in 2013, Bitmain was established to develop and sell the bitcoin miners using its ASIC chip technology. It is headquartered in Beijing with offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu, Shanghai and Shenzhen.

The former investors of DoraHacks included the initiator of DoraHacks Zhang Jiannan, TopHacker Group, 8 Decimals Capital, BA Capital and others.

Last week, Bitmain completed series B round between US$300 million to US$400 million from Sequoia Capital, EDBI and Coatue Management. Bitmain is also reportedly considering an initial public offering in Hong Kong.

You Bixue, Investment Director of Bitmain said that the hacking contest is an important organizational form for connecting developers. As one of the earliest companies to introduce hacking contests in China, DoraHacks has a strong influence in the developer community. DoraHacks teams up with blockchain companies, which will bring give more opportunities and experience to developers.


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