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

posted 3 months 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.
Tags: bitcoin, news