Layoffs do not mean that blockchain technology has been abandoned.
We don't have any panic about it.
Who said we are panicking?
Who said that Jihan Wu going to spend the rest of his life
in prison on a beach in the Bahamas is going to mean the end of blockchain?
When the market declines, the company's profits will also decline.
In fact, this has nothing to do with the price trend of crypto.
Nice contradiction you have here.
If the are no improvements on the equipments they used then its probable that the companuly will stop mining since the network require more hashpower compared 5 years ago. Besides, the double CEO system will create confusion in implementing rules and regulations, strategies and other important decisions for the company. As the old saying says ' Its impossible to serve two masters'.
The network doesn't require anything.
An S9 is still profitable right now and only god (except bitmain staff) knows how many s15 they have produced.
Or, if there aren't any s11 or s13 mining already for years.
And if indeed bitmain stops mining...we might have a serious problem.
Imagine all that hashpower getting sold at scrap metal prices.
Instead of requiring close to a billion and months of manufacturing to get a chance at a 51% attack, all that gear will be there be waiting for a buyer no matter what his intentions are.