The Chinese company Bitmain, the largest manufacturer of crypto mining equipment, will triple its workforce at its headquarters in Israel. The company revealed that it would hire 40 professionals to reinforce the staff of 15 currently working in its development center in the city of Ra’anana, in the Central District.
Bitmain crypto mining equipment manufacturer, far from being cautious about the behavior of the cryptocurrencies market in 2018, has shown signs of continuing to grow and diversify. According to Glikberg, the company has received a significant boost since last year, “as a result of the growing adoption of blockchain technology in general and of cryptocurrencies in particular.”
At the beginning of the year, it became known that Bitmain was building its new headquarters in Switzerland, specifically in the city of Zug, the famous “CryptoValle,” to serve the European market better.
Bitmain, world’s leading crypto mining equipment manufactures, is investing in many cryptocurrency-related projects
In addition to the expansion plans for its headquarters in Israel, the Bitmain crypto mining equipment producer has recently invested in several projects.
In early July it announced the intention to invest $50 million in Opera Ltd, which would give the company shareholder control of the firm behind the Internet browser.
Also, on July 16th, Block.one, the developer of the blockchain EOSIO protocol, the engine of EOS (EOS), said in a statement that Bitmain, along with three other major investors, led the last round of financing for the company. About this investment, Jihan Wu, co-founder of Bitmain, said that “the EOSIO protocol is an excellent example of blockchain innovation.
After its last round of funding, where it raised more than $400 million, representing a $12 billion valuation for the startup, Bitmain officially became the most significant global conglomerate of Bitcoin (BTC) and crypto mining.
Bitmain markets hardware dedicated to the crypto mining, and currently controls 80% of this market. The company was founded by Jihan Wu and Micree Zhan in Beijing and has offices in Shenzhen, Shanghai, Chengdu, Hong Kong, Fuzhou, the United States, Israel, the Netherlands, and Switzerland.