Bitmain to close down another overseas office, as an effort to survive

15 Jan, 2019 | Updated: 15 Jan, 2019
by Fifi Arisandi
Update
Bitmain to close down another overseas office, as an effort to survive

Bitmain to close down their Amsterdam office as part of "ongoing business adjustments".

The odds don’t seem to be in Bitmain’s favor, yet, at least until now as a new update on the mining company emerges.

The China-based corporation is reported to have decided to close down another office, this time the “unlucky” one is Amsterdam.

Speaking to CoinDesk, the company’s spokesperson said the action is taken as part of their ongoing business adjustments.

“As we build a long-term, sustainable and scalable business, we are making adjustments to our staff and operations. This includes the decision to close our Amsterdam and Israel offices,” the spokesperson said.

While the operational activities are not yet ceased completely, the decision has been taken, so it’s just a matter of time before it happens.

“We are really focusing on things that are core to our mission and not things that are auxiliary. We will continue to hire the best talent from a diverse range of backgrounds,” added the spokesperson. 

In addition, it is also still unclear how the closure timeframe will be as well as how many employees will be affected by the decision.

The former mining giant was reported to close down their Israel development center and terminate all the onsite staffs end of last year.

They put the blame on the crypto market, which they said to have forced them to “refocus activities according to the current situation”.

What will happen to Bitmain moving forward? Stay with Chepicap for updates.

Read more: Bitmain close Israeli development center and fire all staff

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