Cathedra Bitcoin employees face high salary cuts

Canada-based public miner Cathedra Bitcoin intends to take some measures to stabilize the economic situation due to the crypto-winter. It includes cutting salaries by 60%.

According to the official address of the company’s representatives, in addition to this, they will take several other measures. With their help, they are going to reduce rent and other items of expenditure.

CEO of miner A.J. Scalia noted:

At the moment, the priority is to survive in the extremely difficult conditions that have formed in the market. Also, on behalf of the company, we would like to thank the shareholders and our crypto community for their support.

Scalia says that despite the difficult conditions for the whole industry, the cash flow from mining is constant. For example, in 30 days, it managed to generate $414k.

Cathedra Bitcoin continues to sell previously mined coins. The last receipts from such operations amounted to $2.5 million.