"MARA has laid off roughly 15% of its workforce as part of a sweeping strategic shift away from pure-play crypto mining and toward energy and digital infrastructure services. The layoffs affected full-time staff across multiple departments and may have included contractors, with some entire teams reportedly eliminated."
"CEO Fred Thiel framed the decision as part of MARA's broader transformation, stating, 'As we've been sharing through our recent announcements with Starwood and Exaion, we're focusing the company in a new direction.'"
"A MARA spokesperson emphasized the company's long-term vision: 'MARA remains focused on executing our strategic evolution from a pure-play bitcoin miner into an energy and digital infrastructure company.'"
"The layoffs follow MARA's February acquisition of a majority stake in Exaion, the data center subsidiary of French energy giant EDF, and a deal with Starwood to repurpose approximately 1 gigawatt of bitcoin mining infrastructure for artificial intelligence workloads."
MARA, formerly Marathon Digital Holdings, has laid off about 15% of its workforce in a strategic shift from pure-play crypto mining to energy and digital infrastructure services. The layoffs affected full-time staff across various departments and included entire teams. CEO Fred Thiel described the decision as part of a broader transformation. Impacted employees will receive severance and benefits. The layoffs follow MARA's acquisition of a majority stake in Exaion and a deal with Starwood to repurpose bitcoin mining infrastructure for AI workloads.
Read at news.bitcoin.com
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