Bitmain: Bitcoin mining giant to sack 50% of its workforce

posted 28 days ago
Bitcoin mining giant Bitmain is going to sack almost half of its staffers by the end of this week, Chinese media reported. The Beijing company today laid off a team which was working on the development of Bitcoin Cash client. Bitmain had quietly laid off one of their teams with only 1-week notice. Some had just joined the company, layoffs just in time for Christmas.

Although it is currently not known whether or not it is a global layoff, Beijing layoffs are already active. Bitmain once had almost 2,000 employees working across its mining and blockchain development verticals, it is expected to drop to 300.
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