Bitmain Builds Up in Israel

Bitmain Builds Up in Israel

Who Is Bitmain

Bitmain is hard at work developing its empire and is now hunting for additional staff to work at its operation in Israel. The Chinese company has recently been spreading its wings and has moved into a couple of different industries including that of internet browsers which is somewhat different to the Cryptocurrency field. Bitmain is an absolute force in the Cryptocurrency industry and is certainly well known especially when you consider its dominance in Bitcoin mining. It reportedly made a profit of $4 billion in 2017, most of which was down to its success with Bitcoin and the Cryptocurrency market as a whole. However, it is expanding its hold and is now heavily involved in EOS as it is now one of the few block producers for the Cryptocurrency. Bitmain – based in Beijing – is not new to the development centre concept and has another two in Hong Kong and Amsterdam. It has also just opened up a new facility in Silicon Valley in California.

Operations In Israel

In Israel, Bitmain is looking to increase its staff numbers by 40, all working out of the company’s development centre based in Ra’anana. The staff are being brought on board to focus on research and development. This is a huge rise in headcount for the centre that currently only hires 15 employees. It is also quite surprising when the centre has only been around for two years and at the moment there is no real positive outlook for Bitcoin in the next few months. However Bitmain obviously feels that the time is right to up operations and productivity on Blockchain and Artificial Intelligence.

Bitmain

Making The Most

Bitmain is remaining positive however and has stated that the company is using the quiet downtime that Bitcoin is going through at the moment to actually focus on a lot of things, of which research is one. The company can also use this time to develop where necessary, form strategic plans and get all of its ducks in a row before the Cryptocurrency market takes off again. The company is looking for a wide selection of staff in Israel including senior software and security engineers as well as Blockchain researchers to name a few. Bitmain is looking far and wide for the necessary staff who must have the skills and experience necessary for this very driven and highly successful company.

Although slightly unexpected, this is very much a positive for the industry at the moment especially when the industry is not performing as well as it was at the end of last year. There is no upturn either expected soon. However, Bitmain certainly does not have any money worries so can focus on what needs to be done without panicking about its finances. Many are not in this lucky position. This move from Bitmain does stake its confidence in the market which is never a bad thing. It will be interesting to see what comes out of Israel over the coming months. With Bitmain taking the lead, anything could happen.




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