Crypto mining heavyweight Bitmain is reportedly set to lay off half of its current human resources.
Reported by Wushuo Blockchain on January 2nd, Bitmain – the world-leading crypto mining company from China – has put a new plan, dubbed “personnel optimization plan”, to motion, which looks to reduce a large proportion of its current workforce, prior to the next BTC halving, which may occur in May.
Bitmain will reportedly host a yearly meeting on January 17th, and looks to finish bringing down the number of employees to desired target before the meeting takes place.
The individuals with specifics of the initiative revealed that the upcoming Bitcoin halving, which will bring down 50% of the new coins awarded to miners, is the primary motive that led to the decision.
In December last year, Bitmain has undergone a major personnel cutoff, which resulted in 50% of the human resources departed from the firm. Bitmain shared that it is a part of its plan to maintain a sustainable operation, and the firm will focus more on bringing experts with great diversities in their background on board.