Bitmain, one of the world’s largest crypto-money companies, began preparing for the upcoming halving.
According to a report by Finance Magnates, the company decided to reduce the number of employees in order not to be adversely affected by halving.
Halving in Bitmain
Bitcoin miners are currently receiving a 12.5 BTC prize from the blocks they have excavated.However, this situation will change with halving in the coming months.With the block award halved, the miners will receive only 6.25 BTC from the blocks.
Mining giant Bitmain has already taken action to prevent halving from adversely affecting the company’s financial position.Apparently, the company plans to cut its staff in half.
With more than a thousand employees, Bitmain is now regarded as the largest crypto currency company.In order to make a comparison, we can say that Bitmain’s rival Shenma Mining Machine has a staff of approximately one hundred people.