Layoffs have come to Massena's largest Bitcoin miner.
15 people were laid off at Coinmint's operations at the former Alcoa East plant, but the company says it's not directly tied to the plummeting price of Bitcoin.
A single Bitcoin was worth more than $10,000 a year ago. It's worth less than $4,000 now. Coinmint says the company is slowing growth but still installing computers to mine cryptocurrencies. It had 35,000 installed at last count.
“We've been mining Bitcoin for over three years. We were profitable mining Bitcoin at $600 and we're very profitable mining Bitcoin at the current levels," said Prieur Leary, Coinmint chief technology officer.
70 people worked at the mining operation until the layoffs. The company says the 15 workers were let go last month.