Micree Zhan's Latest Open Letter: Bitmain's Cash Flow is Healthy, and He is Firmly Opposed to Layoffs

Abstract : Zhan as the largest shareholder, founder of Bitmain and the first responsible person of the company since its establishment six years ago, he is firmly opposed to the layoffs.

ChainDD
ChainDD

Jan 07

Zhan just released an open letter to all employees of Bitmain on Weibo. It was reported that Bitmain planed to lay off staff, claiming to lay off half of its staff.  R&D department is the focus of layoffs, of which the AI ​​business will be cut by two-thirds.

In this regard, Zhan pointed out that, compared with the competitors' thousand-person team, Bitmain's AI business line has less than 800 people, and the company's capital and asset reserves can afford this part of the business line expenditure.  Bitmain's cash flow is healthy and there are huge amounts of virtual assets.

In the end, he was pointed out that such news that did not conform to common sense and logic should be rumors.  If it is very unfortunate that the current management team really made such a wrong suicide-like decision, as the largest shareholder, founder of Bitmain and the first responsible person of the company since its establishment six years ago, he is firmly opposed to such layoffs.

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