Home » Bitmain reportedly suspended worker salaries from September

Bitmain reportedly suspended worker salaries from September

by CoinVeem

Bitmain, one of many world’s largest Bitcoin application-specific built-in circuit (ASIC) producers, has suspended worker wage funds from September, in line with a Tuesday report by China-based tech information outlet Leiphone.

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  • The agency has additionally reduce all bonus incentives for its employees, on high of the worker salaries since final month, the information outlet reported citing unnamed Bitmain staff.
  • “For the month of September, the corporate has but to realize a web constructive money stream, particularly within the orders of [new] ASICs,” Bitman allegedly mentioned in an inner observe. Workers reportedly face an extra 50% reduce to their base wage.
  • Bitmain didn’t instantly reply to Forkast’s request to touch upon this story. 
  • Crypto mining companies have been pressured by the present crypto bear market. Bitmain cut the price of its S19 Professional mining rig to US$19 per terahash again in September 2022, which is a 41% low cost.
  • Bitmain was based in Beijing in 2013 and is among the world’s largest Bitcoin mining ASIC producers. The agency has quite a few subsidiaries within the U.S., Singapore, Malaysia and Kazakhstan.
  • Bitmain was fined US$3.6 million for alleged tax violations in China in April.

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