/Bitcoin Mining Giant Named One of Chinas Hottest Startup Employers – CCN Markets

Bitcoin Mining Giant Named One of Chinas Hottest Startup Employers – CCN Markets

China has held the crown for being the home of some of the largest makers of bitcoin mining equipment for years now. According to LinkedIn, one of these bitcoin mining rigs has emerged as a favored destination for job seekers in the world’s second-largest economy.

Per CNBC citing a report by the Microsoft-owned professional social network, Bitmain is ranked third among the hottest startups to work for in China.

Bitmain, which is headquartered in Beijing, boasts around 2,500 employees stationed around the world.

Criteria used to rank China’s hottest startups to work for

The crypto mining equipment manufacturer was only outranked by Chinese ride-hailing giant DiDi Chuxing and internet content firm ByteDance. The rankings were based on feedback from LinkedIn users.

The criteria used to rank included the ability of the company to attract job candidates from other leading employers, interest level in jobs advertised, employee engagement, and employment growth.

Bitmain’s top-three ranking is an indication that despite the setbacks and negative headlines that the company faced in recent months, it is still an attractive destination for Chinese job seekers. And, by extension, it is also an indication of the crypto sector joining the mainstream as an attractive employer.

2018: The year the bitcoin mining giant wants to forget

Some of the setbacks Bitmain experienced included failing to get publicly listed in Hong Kong. The bitcoin mining equipment manufacturer also faced a leadership crisis toward the end of 2018. This resulted in its long-serving CEO and, for a long period, its most recognizable public face, Jihan Wu, resigning.

The bearish conditions in the crypto market in 2018 also saw reduced demand for Bitmain’s products. This resulted in the crypto mining equipment maker announcing layoffs, scaling back operations, and even reporting record losses.

Not all the headlines have been bad for Bitmain though. After the recovery in the crypto markets this year, the bitcoin mining operator is set to continue seeking to get publicly listed. In late July it was reported that the crypto mining giant had filed for an IPO in the U.S.

Bitmain is also aggressively pursuing growth following the recovery. Last month it was reported that the mining rigs manufacturer, which also has its own mining operations, was increasing its mining capacity by approximately 50%.

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