Bitmain Continues to Downsize Amid Management Restructuring Reports

Bitmain Continues to Downsize Amid Management Restructuring Reports

News
Chinese crypto mining juggernaut Bitmain has taken a substantial hit in the recent crypto crash, leading to negative consequences for the company on many fronts. Just today, a source has confirmed with Bitcoin Magazine that the company is shutting down its offices in Amsterdam.Throughout December 2018, for example, like many companies in the crypto space, Bitmain appeared to be gearing up for a wave of layoffs. With employees taking to semi-anonymous, Chinese forums to describe their experiences, reports claimed that entire departments were completely shuttered, and about half of the entire workforce was due to be sacked. Indeed, Bitmain began the month by shutting down all operations in Israel, despite success in that country since 2016.In December, a Bitmain spokesperson told Bitcoin Magazine: “There has been some adjustment to our…
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How to Mine Veil (x16rt) With Nvidia and AMD GPU – The New Big Always-On Privacy Coin

How to Mine Veil (x16rt) With Nvidia and AMD GPU – The New Big Always-On Privacy Coin

Guides and Tutorials
Note: This is NOT a sponsored post. Despite the unstable market situation, cryptocurrencies are steadily making their way to the public. Not only people now know what cryptocurrencies are, they are also starting to use them for a wide variety of real-life applications. However, with adoption come regulations. Most big cryptocurrencies are already being regulated in one country or another. I’m not going to delve into the moral part of the matter, however I do believe that we all have the right to keep our possessions private, if we chose to do so. Here’s where Veil can help. 1 What is Veil? Veil is a very promising cryptocurrency that combines the latest and most efficient privacy protocols and technologies to ensure the privacy of their users. While anonymous transactions are…
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Bitmain’s Uncertain Future: Suspends Bitcoin Mining Amid Senior Management Shakedown

Bitmain’s Uncertain Future: Suspends Bitcoin Mining Amid Senior Management Shakedown

Bitcoin, News, Tech
Bitmain, the world’s largest cryptocurrency mining hardware manufacturer, has had tumultuous few months. The company is going through a significant senior management shuffle and is now reported to shut suspend operations in Rockdale, Texas. Operations Suspended?  Bitmain is reportedly suspending its’ its operations in the town of Rockdale located east of the city of Austin, Texas. The future of what was once supposed to be the biggest US-based cryptocurrency mine now seems uncertain at best. Speaking on the matter was Milam County Judge Steve Young, who said: “I’m really disappointed because we had advertised this. We had waited for this. We had wanted this. We had welcomed this. […] This was huge; we need some positive news here. We need some jobs here. We need a tax base here, and…
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Bitmain Reportedly Will Sack Up to 85 Percent of Workforce

Bitmain Reportedly Will Sack Up to 85 Percent of Workforce

News
The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce.Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days. Some reports were even claiming that the company was looking to shed 50 percent of all employees. These rumors first began to circulate on December 22, 2018.The very next day, Samson Mow, the chief security officer of Blockstream and CEO of Pixelmatic, began to post more evidence of these layoffs from Chinese sources. He tweeted a series of messages from employee conversations, which…
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Report: Crypto Industry Giants Bitmain and Huobi to Layoff Staff

Report: Crypto Industry Giants Bitmain and Huobi to Layoff Staff

News
Cryptocurrency mining giant Bitmain and major crypto exchange Huobi have reportedly confirmed plans to lay-off staff. Cryptocurrency mining giant Bitmain and major crypto exchange Huobi have reportedly confirmed plans to lay off staff amid the 2018 price rout of the crypto markets. Hong Kong English-language newspaper South China Morning Post (SCMP) reported on the layoffs on Dec. 26.Beijing-based Bitmain Technology, which has dominated the mining hardware manufacturing horizon this year, is quoted by SCMP as saying in a statement that it is undergoing “some adjustment to our staff this year”  — a statement reportedly prompted by Chinese social media coverage of looming layoffs at the firm. Bitmain reportedly stated:“A part of [building a sustainable business] is having to really focus on things that are core to that mission and not…
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Bitmain Follows Industry Trend, Shutters Operations in Israel

Bitmain Follows Industry Trend, Shutters Operations in Israel

News
Chinese-based cryptomining firm Bitmain is shutting down the operations of Bitmaintech Israel, its research and development (R&D) center in Ra'anana, Israel, according to reports from local news outlet Globes.The R&D center, which produced Bitmain's first Israeli mining pool ConnectBTC, was launched in 2016 to explore meaningful use cases of blockchain technology, as well as artificial intelligence for the company's Sophon project. As the market continues its bearish run, Bitmaintech will reportedly close down its operations and lay off 23 of its employees, including Gadi Glikberg, Bitmain's vice president of international sales and marketing, who held a managing role at the center.“The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in…
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