Chinese mining company Bitmain has decided to close another foreign office-this time in Amsterdam — as part of the ongoing business adjustments.
According to an announcement, Bitmain is already implementing its decision to liquidate the representative office. The company did not name the number of specialists to be dismissed, but according to LinkedIn, it is about at least nine employees to become jobless.
In December, the mining giant closed the development center in Israel, firing 23 employees who were engaged in the development of blockchain and artificial intelligence technologies. The reason was called "the general drop in the cryptocurrency market last year". At the end of the year, there were reports of planned mass layoffs in Bitmain, which can make up to 50% of the staff.
Representatives of the company then denied the plans of large-scale cuts, saying that we are talking about adjusting the business. However, sources who wished to remain anonymous confirmed the decision to reduce a third of the employees, the total number of which in the company exceeds 3 thousand. The same sources called the name of the new CEO of Bitmain, who replaced Jihan Wu and Micree Zhan, who carried out the dual management of the company.