What it does: A blockchain and semiconductor company that creates computing chips and software.
Best known for: The media has described Bitmain as the biggest bitcoin mining company in the world.
Staff stats: Up to 5,000 employees.
The good bits: Graduates have the chance to work for a renowned enterprise.
The not so good bits: Bitmain doesn’t frequently offer internship opportunities. Entry-level roles for fresh graduates are only limited to certain regional offices (eg China and Hong Kong).
Jihan Wu and Micree Zhan founded the company in 2013 when it was incorporated in Hong Kong as Bitmain Technologies Ltd. They initially engaged in bitcoin mining operations before becoming a multinational blockchain and semiconductor company.
The company achieved this rank by expanding its operations to a global scale including the production of artificial intelligence (AI) applications, cloud solutions, computer chips and servers. They employ over 2,500 people at their Beijing headquarters and regional offices in Brazil, Canada, Hong Kong, Israel, Georgia, Netherlands, Russia, Singapore, Switzerland and the USA.
Bitmain still accepts applications even if you don’t find a job opportunity that’s relevant to your profile. Some of the previous applicants shared their negative experience during the hiring process, including unprofessional interviewers. It might be a test to determine your response to a stressful situation.
The company may take up to four weeks to process candidates. Applicants should expect a series of exams and interviews, especially for technical jobs like engineering and IT roles. Bitmain doesn’t seem to have frequent internship opportunities.
Some of the entry-level roles for fresh graduates in the USA include mechanical design engineers. Bitmain requires a mechanical engineering or mechanical engineering technology degree for this position. The company prefers to hire individuals with at least one year of experience in computer-aided design (CAD) and AutoCAD, mechanical design and Solidworks.
The Design Engine’s training serves as an alternative for those who aren’t qualified as mechanical design engineers. The company sometimes recruits graduates for the graduate management trainee program in China. In Singapore, you can be a senior tax analyst once you have at least two years of professional experience in tax compliance procedures.
Bitmain offers flexible work hours, free cinema tickets, monthly office events, sponsored company trips and weekly badminton matches. The company also provides bonuses for every successful internal employee referral. Not much is known about the salaries of entry-level employees.
A customer service representative at the company earns between SGD2,000 and SGD3,000 per month on average. Managers earn a median monthly salary of SGD8,000. Employees also enjoy comprehensive medical insurance coverage, Central Provident Fund contributions and meal subsidies.
The company claims a start-up work culture despite being a multinational company. The problem, however, lies with some employees’ concerns over Bitmain’s future. The uncertainty stems from the volatility of the cryptocurrency mining market. Most of their staff still recognise the company’s competitive benefits and salaries as a way to attract young talents.
You might experience some difficulty when dealing with the HR department, particularly with retrenchment issues. Not everyone seems convinced with the growth trajectory of Bitmain, which has downsized and expanded within one year based on the experience of previous employees. The best things about working for the company involve a strategic office location and professional colleagues.
Bitmain competes with Altonomy, BitFury, Blockstream, Litecoin, Monero and Squire Mining.
The company has dealt with legal troubles between 2018 and 2019. Bitmain co-founders Wu and Zhan locked horns in what seemed to be a corporate battle over control of the company. Wu allegedly diluted Zhan’s voting power by using Bitmain’s shareholder policies to his advantage. This ultimately led to Zhan’s ouster as the company’s biggest shareholder in late 2019.
Corporate infighting appeared to be much less of a problem when compared to the company’s IPO woes. Widespread job layoffs occurred as Bitmain sought to raise money from a debut offering in the USA, but the plan apparently hit a roadblock in early 2020. The American justice department has probed the company for its links to a potential Ponzi scheme. Bitmain reportedly sold a large amount of equipment to BitClub, whose founders have faced charges from American authorities for selling unregistered securities under the premise of guaranteed returns to investors.
Bitmain remains a good choice for graduates who are passionate about blockchain technology. The company’s years in the industry, despite particularly tumultuous events, indicate that you can learn a lot during your stay. It may be a nice stepping stone to become acquainted with the controversial business of bitcoin trading, but you’ll need to be prepared for sudden changes, which may affect your job security.