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Cryptocurrency Miner Bitfarms Reduces Staff Due To COVID-19 Crisis
Summary: Bitfarms, the publicly-listed Canadian mining and blockchain infrastructure firm, will be temporarily reducing staff, due to the economic and social toll of the COVID-19 pandemic. According to an update published on April 6, the company revealed it managed to maintain an average daily hashrate of approximately 750 PH since March 19 by optimizing its operations ...
Bitfarms, the publicly-listed Canadian mining and blockchain infrastructure firm, will be temporarily reducing staff, due to the economic and social toll of the COVID-19 pandemic.
According to an update published on April 6, the company revealed it managed to maintain an average daily hashrate of approximately 750 PH since March 19 by optimizing its operations in order to maximize its computing power.
According to Bitfarms, the firm has managed “to generate positive cash flow in... difficult times.” Part of the reason the company has been able to maintain its viability during the crisis by taking temporary steps to reduce staffing “in line with government guidance.”
By Ramsey Baker
Tags: Bitfarms,Blockchain,Cash Flow,Coronavirus,COVID-19,reducing staff
Link: Cryptocurrency Miner Bitfarms Reduces Staff Due To COVID-19 Crisis [Copy]
