Bitmain to follow a Personnel Optimization Program ahead of Bitcoin halving

Bitmain, the application-specific integrated circuit chips manufacturing company, has recently launched a “personnel optimization program” under which Jihan Wu, the CEO has asked the department managers to submit an “optimization list” before the company’s annual meeting on January 17.



Some company officials, on the condition of anonymity, said that the company is operating with healthy cash flow and the optimization is just like a “weight-loss exercise” to deal with the halving, and can be said as a corrective action to the company chairman, Micree Zhan’s business expansion plan.


The crypto mining industry is currently under pressure of the Bitcoin-halving process, and to simplify the organizational structure for the winter, Bitmain is laying its focus on the main business and maintaining a leading edge in technology.


If we compare Bitmain with its competitor Whatsminer, the former takes the lead in hiring almost 1000 more people than its latter counterpart, all due to the number of employees being relatively redundant. Industry experts believe that the trend of bitcoin is unclear at present and the halving in May 2020 is only adding to the uncertainties for the miner manufacturers.


After the control on Bitmain was regained, an almost 20% increase in the salaries of the company employees was observed. A customer conference followed soon after, at Chengdu, wherein three strategies were launched to lower the entry barrier for miner buyers, and this is something we can call a double shot.


How?


This option does not only reduce the psychological threshold for buyers to buy machines and teach fellow miners on the proper techniques to use the financial tools for mitigating risks but also promote the new company Matrixport among the general public.


Some of the common mining machines, Antminer S17 were reported to be shipped on a large scale to replace the older S9 version which is quite near to its shutdown price.