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Bitcoin mining startup fires half its staff, declares “we’re not scammers”

• ars technica
HashFast, an embattled Bitcoin mining startup, announced on Thursday that it has fired half of its employees as a way to save money.

“In order to improve our cash flow, as well as focus on ASICs, we made the difficult decision to reduce our workforce by eliminating marketing and customer service roles, as well as some engineering functions,” Amy Abascal, the company’s director of marketing, wrote in a blog post. “The total reduction was 50 percent of the current staff. This was a fiscally responsible way for us to slow our burn rate, get customers hashing, and continue developing amazing technology.”...

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