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Bitcoin mining company MARA lays off about 15%, will pivot toward energy and digital infrastructure
ME News Report, April 3 (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 workforce. MARA CEO Fred Thiel stated that these layoffs are not purely financial decisions but strategic adjustments. The company is transitioning 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 30, 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 4 and March 25, 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 for general corporate purposes. (Source: Foresight News)