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Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC) in July even as the company powered down several times in response to demand on the Texas power grid.In a Friday announcement, Core Scientific said its month-over-month Bitcoin production had increased from 1,106 in June to 1,221 in July —
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Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs.According to a Friday blog post, CoinFLEX said it had cut some staff across “all departments and geographies” as part of measures to reduce the company’s costs by 50% to 60%.
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Some traditional market analysts, however, seem to be pricing in rate cuts by the Fed coming early next year, ostensibly as part of a future move to stop the U.S. economy from a deeper recession. Those analysts might be thinking the economy is too weak to handle higher rates, or
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Mere weeks after announcing staff lay-offs and salary cuts, Compass Mining has unveiled expansion plans in the form of a 75 megawatt (MW) hosting partnership with Compute North for its data center in Granbury, Texas.The announcement on July 21 comes only a two weeks after the company retrenched 15% of
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As a bear market sweeps the crypto industry, CryptoX is keeping a running list of industry players that have been forced to cut back on staff. Source
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Blockchain.com said it would be closing down its Argentina-based offices and canceling team expansion plans in several countries. Some 44% of the impacted employees are in Argentina, 26% in the U.S., 16% in the U.K., and the remaining from the rest of the world, the company said.The reduction brings the
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Cameron and Tyler Winklevoss’ Gemini has reportedly laid off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees.In a Monday report from TechCrunch, the news outlet said that a source close to Gemini reported 68 fewer employees on the company’s Slack channel,
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The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time
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The company last week extended the deadline to complete its SPAC merger until the end of 2022. Original Source
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