😓 Bitmain closes Israeli blockchain development center, citing crypto market conditions

Crypto mining firm Bitmain has announced that it will close its development center in Israel and lay off all 23 employees. Founded in 2016, the office focused on new blockchain applications and the infrastructure behind Bitmain's artificial intelligence project Sophon. In the announcement Bitmain cited the recent market conditions in the crypto space which has led them to reevaluate their operations around the globe.

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.