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Mining Giant Bitmain Reportedly Set To Lay Off 50% Of Staff

Ramsey Baker

Summary: Bitmain, the Bitcoin (BTC) mining giant, reportedly is ready to cut it’s workforce by another 50%, according to Chinese news media outlet Wushuo Blockchain. The world’s largest producer of mining machines has purportedly launched a “personnel optimization plan” that will result in a substantial number of employees fired before the next BTC halving. It is believed that ...

Bitmain, the Bitcoin (BTC) mining giant, reportedly is ready to cut it’s workforce by another 50%, according to Chinese news media outlet Wushuo Blockchain.

The world’s largest producer of mining machines has purportedly launched a “personnel optimization plan” that will result in a substantial number of employees fired before the next BTC halving. It is believed that the layoff will be completed before the company’s annual meeting on Jan. 17.

By Ramsey Baker

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