Bitmain Is Ranked As Third Hottest Crypto Startup In China

Bitmain is ranked as the third hottest crypto startup to work within China as the country is crowned as the home to many large bitcoin mining companies for years now so let’s take a look in the altcoin news below how Bitmain earned this place.

According to a CNBC report by the Microsoft-owned social network, Bitmain is ranked as third among the best crypto startups in China. The company which is headquartered in Bejing has about 2,500 employees that are stationed around the world. The crypto mining equipment manufacturer was surpassed only by the Chinese giant DiDi Chuxing and the internet content company ByteDance. The ratings were done based on the feedback from the users of LinkedIn. The criteria that were used to rank the companies included the ability of the company to attract job candidates from other leading employers, interest level in the advertised jobs, employee engagement and employment growth.

Bitmain’s top-three ranking position is a clear sign that despite the setbacks and the negative headlines that the company faced in the media over the past few months, it is still among the preferable companies for the job seekers. This also shows that the crypto sector is joining the mainstream especially Bitmain as an attractive employer. Some of the major setbacks that the company went through were the inability to get listed in Hong Kong publicly and the mining equipment manufacturer also faced a leadership crisis towards the end of 2018. This crash resulted in shrinking down of the employees of the company and closing divisions as well but also the resignation of the public face of the company Jihan Wu.

The bearish conditions on the market back in 2018 also saw reduced demand for the products of the company and this resulted in the crypto mining equipment producer to announce further layoffs, reducing operations and even reaching record losses. However, not all headlines were bad for Bitmain. After the recovery of the markets, the mining equipment producer continued to seek for a public listing and in late July it was reported that the crypto mining giant filed for an IPO in the US as we read in the latest cryptocurrency news previously.