Micree Zhan calls Bitmain’s decision to lay off half of its staff “suicidal.”

The co-founder of Bitmain, Micree Zhan, who was abruptly removed from the company last year, has expressed his disapproval of the company's decision to fire half of its staff.

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In an open letter to Bitmain, Micree Zhan expressed his disapproval over Bitmain’s decision to layoff its half of the staff that is expected to happen this month. Micree Zhan, who was removed from the company, still is one of the largest shareholders of Bitmain.

 

“Not necessary to lay off 50% of the staff.”

Micree Zhan, in his open letter, mentioned that the plan to layoff 50% of its staff could prove to be suicidal and is not necessary. He said that most of the layoffs are from R&D, and it is ridiculous. He added that revenues can afford the cost of miners. He called implementing a large scale layoff a fatal mistake for the company.

According to him, the decision only takes into consideration the firm’s short-term benefit and neglects its reputation as being a sure-footed and viable employer.

 

“Bitmain should integrate AI and machine learning.”

The Bitmain Co-founder also said that the mining machine maker should contemplate integrating advanced technologies like artificial intelligence, big data, and machine learning. He believes that Bitmain would only remain profitable in the long run if it expands its reach to other sectors and explores more technologies. The last few months for the leading bitcoin mining machine maker were not that good. Micree Zhan has promised to come back to the company and reclaim his position.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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