![Bitmain forced to shut down Israel operations due to cryptocurrency bear market](http://cdn0.tnwcdn.com/wp-content/blogs.dir/1/files/2018/12/bitmain-antminer-cryptocurrency-blockchain-bear-market-bear-downturn-796x448.jpg)
2018-12-10 16:33 |
It appears the downturn of the cryptocurrency market is having a ripple effect (pun intended) on the industry. Numerous blockchain businesses have been forced to close down or lay off staff to survive – and the latest one is Bitmain.
The mining giant is the latest to be hit by the cryptocurrency bear market and is shutting down its Israel-based development center, Bitmaintech Israel, Globes Israel reports. The development center was set up two years ago, and will close this week laying off its 23-people-strong staff in the process. Gadi Glikberg, head of Bitmaintech Israel and VP at Bitmain, will…
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