MARA Miner Cuts Workforce, Shifts to AI
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
MARA, a publicly traded Bitcoin miner, recently reduced its workforce by 15% and sold off $1.1 billion in Bitcoin to focus on energy and digital infrastructure, including AI data centers. This strategic shift comes as many crypto companies, like MARAs rivals Riot Platforms and Cango, have also been selling off Bitcoin and trimming jobs. Despite MARAs shares jumping 8.7% on Thursday, theyre down 53% over the last six months due to Bitcoins drop. The crypto industry as a whole has been cutting jobs, with Block, Gemini, and Crypto.com all reducing their workforce. As Bitcoin hovers around $67,000, more miners are expected to follow suit and invest in AI.
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