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Bitcoin mining company MARA lays off about 15%, will shift towards energy and digital infrastructure
ME News Report, April 3rd (UTC+8), Bitcoin mining company MARA Holdings implemented company-wide layoffs this week, involving full-time employees from multiple departments, with the layoffs accounting for approximately 15% of the total staff. MARA CEO Fred Thiel stated that these layoffs are not purely a financial decision but a strategic adjustment. The company is shifting from a pure Bitcoin mining firm to an energy and digital infrastructure company, focusing on AI and high-performance computing (HPC) businesses, including recent acquisitions of Exaion and collaborations with Starwood. Affected employees will receive one month of paid leave, benefits extended until April 30th, 13 weeks of severance pay, and full payment for unused vacation days. Foresight News previously reported that MARA sold a total of 15,133 Bitcoins between March 4th and March 25th, with a total sale price of approximately $1.1 billion. The company plans to use the proceeds from Bitcoin sales to repurchase bonds, with the remaining funds allocated for general corporate purposes. (Source: Foresight News)