Additionally, Bitmain eliminated all bonus incentives for its employees, increasing the financial difficulties faced by employees. A leaked internal memo states: “The company did not achieve net positive cash flow until September, particularly on new ASIC orders.” As a result, the company’s employees will be subject to a further 50% reduction in their base salaries.
Founded in Beijing in 2013, Bitmain is known as one of the world’s largest Bitcoin mining ASIC manufacturers. The company has numerous subsidiaries in different countries, including the USA, Singapore, Malaysia and Kazakhstan.
Source: Ferra
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