American Bitcoin mining firm Foundry has recently confirmed that it has laid off 16% of its workforce. This decision is part of a broader wave of layoffs affecting the cryptocurrency industry, despite rising revenues for miners.
The layoff announcement from Foundry highlights ongoing challenges within the sector, as companies continue to adapt to changing market conditions and economic pressures.
Such restructuring efforts come amid increasing revenues for Bitcoin miners, showing a paradoxical situation where businesses streamline operations even as some financial metrics improve.
