Bitcoin mining firm MARA Holdings has announced a 15% reduction in its workforce as part of a strategic shift towards energy and digital infrastructure. CEO Fred Thiel emphasized that the layoffs, affecting full-time employees across various departments, are part of a broader realignment rather than purely financial measures. The company aims to expand its AI and high-performance computing (HPC) sectors, bolstered by its acquisition of Exaion and a partnership with Starwood.
Impacted employees will receive a comprehensive severance package, including one month of paid leave, continued benefits through April 30, 13 weeks of severance pay, and compensation for unused vacation time. Recently, MARA sold 15,133 Bitcoin, raising approximately $1.1 billion, which will be used for bond repurchases and general corporate purposes.
MARA Holdings Cuts Workforce by 15%, Shifts Focus to Energy and Infrastructure
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