Bitmain Paused Employee Salary Payments For September – Local Reports

According to local reports citing multiple Bitmain employees, the company has still has not paid all remuneration due since last month and allegedly cut all bonuses and incentives for its staff. In addition, the company’s employees face a 50% cut to their base salary.“For the month of September, the company has yet to achieve a net positive cash flow, especially in the orders of [new] ASICs. The Executive Management Team therefore decided that salaries for the month of September will be paused, to be reviewed after October 7 after the holiday,” a message allegedly from Bitmain reads.On October 8, 2023, Odaily reported that Bitmain fulfilled part of commitments by disbursing some of the September wages. The firm reportedly promises full disbursement post the October 7 holiday based on prevailing circumstances.

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