Bitmain to Close Israeli R&D Center due to Crypto Market Crash – Report

Bitmain, one of the largest ASIC miners on a global level, has decided to close its Israel-based research and development (R&D) center, according to a report from local daily newspaper Globes. The move comes as a result of pressure from the crashing cryptocurrency market, Gadi Glikberg, head of Bitmaintech Israel, said on Monday.

The R&D center will cease operation this week, and the company will lay off all 23 employees. Glikberg, who has also been Bitmain’s vice president for international sales and marketing for nearly three years, will leave both positions.

“The crypto market has undergone a shake-up …

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