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Layoffs Underway Amid ‘Adjustments,’ Bitcoin Miner Bitmain Confirms By CoinDesk

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© Reuters.

Months after it filed an application to go public on the Hong Kong Stock Exchange, Beijing-based cryptocurrency mining giant Bitmain is undergoing a series of business changes that extend even to its China offices, the company confirmed Tuesday.

“There has been some adjustment to our staff this year as we continue to build a long-term, sustainable and scalable business. A part of that is having to really focus on things that are core to that mission and not things that are auxiliary,” a company representative said in a statement.

The discussion of the company cutting off staff first emerged on Maimai, China’s equivalent to LinkedIn (NYSE:), where one anonymous user posted a thread on Dec. 17 asking if anyone had insider information about a possible layoff at Bitmain soon.

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