Bitmain lost money in 2019, lawyers tell court in China
Lawyers representing Bitmain Technologies disclosed at a recent court hearing that the ASIC mining hardware manufacturer recorded a loss of nearly $60 million in 2019.
Lawyers representing Bitmain Technologies disclosed at a recent court hearing that the ASIC mining hardware manufacturer recorded a loss of nearly $60 million in 2019.
Claiming they had to cut staff to prepare for their future ambitions, departments all over BitGO are now seeing cuts.
Bitmain laying off 50% of its staff suggests the upcoming BTC halving may not be as lucrative as many would hope.
The firm has announced that it needs to reduce expenses and one of the easiest ways to make this happen is to cut personnel.
The location was expected to help the company expand its portfolio of cryptocurrency trading products and take advantage of the city’s financial expertise.