It was to be expected that the coronavirus crisis would have a big impact for most businesses around the world. Even Bitcoin mining farms are now being affected, resulting in multiple people losing their job.
The coronavirus crisis has taken the entire world by storm, but not in a positive way.
Bitfarms is Forced to lay off Staffers
Bitfarms, one of the many companies involved in Bitcoin mining, is feeling the pressure.
More specifically, the company has a North American operation which will impact the company’s performance.
More specifically, various staff members will lose their job in the weeks to come.
This decision is made due to economic and social concerns regarding COVID-19.
These temporary steps to reduce staffing are also part of the social distancing guidelines enforced by the government.
Cutting monthly expenses is crucial during trialing times like these.
What is interesting is how Bitfarms doesn’t expect to see a negative impact on its overall revenue, however.
Most of the Bitcoin mining machines can effectively run on their own with minimal oversight.
Moreover, ample operations can be monitored remotely, reducing the need for staffers to be physically present.
How long the staffers will need to remain at home, remains to be determined at this time.