Report: Layoffs at Cryptomining Giant Bitmain as Company Anticipates Possible Revenue …

Report: Layoffs at Cryptomining Giant Bitmain as Company Anticipates Possible Revenue Squeeze from Upcoming Bitcoin “Halving”

Bitmain, one of the world’s largest manufacturers of cryptocurrency mining hardware, says it is reducing staff in order to head off a revenue squeeze that could occur when Bitcoin “halves” in May, Sina reports. Although, “the company is now operating normally and the cash flow is healthy,” Sina writes, Bitmain…launched a staff optimization plan at the end of 2019.”