Bitmain Israel Research Center Closes Amid “Crypto Market Instability”
The development center of the Chinese mining company Bitmain in Israel closes and everything its 23 employees will be fired, local newspaper Globes reported this morning. Gadi Glikberg, Israeli branch manager and vice president of Bitmain, will also step down.
“Cryptocurrency the market is unstable for the last several months. because of of this Bitmain was forced to reconsider various aspects his global action and shift focus to conformity with the current situation “, – he told the employees of the division.
Events unfold against the backdrop of a continuous series of confirmed and unacknowledged messages about deterioration in the material well-being of Bitmain. So, user Twitter BTCKING555, part of messages whom subsequently found reflection and in other sources, last week wrote that those caught in him company data per the third quarter looks like a “complete disaster”. “The company lost $ 740 million on equipment and Bitcoin Cash! And this is without taking into account the costs of hash wars “, – stated is he.
Bitmain opened an office in Israel in 2016. is he has been developing various blockchain–decisions, served the ConnectBTC mining pool and worked on artificial intelligence technologies as part of the Sophon project.