Nova Labs reduced its workforce by approximately 36% at the end of August. The company aims to prioritize its Helium Mobile network, a decentralized, blockchain-based cellular service.
This move reflects Nova Labs’ ongoing effort to streamline resources toward expanding its crypto-powered mobile offerings.
Workforce reductions to refocus on core operations
Frank Mong, Chief Operating Officer of Nova Labs, announced the layoffs, explaining the company’s decision to concentrate on accelerating the growth of its Helium Mobile network. According to Mong, Nova Labs saw an opportunity to focus on the expansion of its subscriber base, prompting the need for greater operational efficiency. A former employee estimated Nova Labs had about 105 employees before these cuts. The restructuring has affected multiple departments, including engineering.
Mong expressed appreciation for both current and former employees, acknowledging their contributions to the company’s growth. The layoffs align with Nova Labs’ strategy to optimize operations as they shift focus to their blockchain-driven mobile network business.
Helium mobile network offers affordable, Crypto-backed cell plans
Nova Labs’ Helium Mobile network, which utilizes blockchain technology, has gained attention for its affordable and unique mobile plans. Through a partnership with T-Mobile, the network offers unlimited data plans for just $20 per month, allowing users to connect to the Helium network alongside T-Mobile’s infrastructure. This hybrid model leverages Helium’s decentralized approach, which uses the HNT cryptocurrency to reward users who help deploy and maintain network infrastructure.
Over time, Helium’s network has expanded to support various applications beyond mobile, including IoT (Internet of Things) and energy sectors. HNT tokens allow subscribers and network operators to transact and manage data within the Helium ecosystem, aiming to develop one of the largest decentralized wireless networks worldwide.
Partnership with American Bandwidth to expand coverage
In a recent move to strengthen its network, Nova Labs partnered with American Bandwidth on October 9, 2024. This collaboration is expected to significantly extend Helium’s coverage by integrating Ameriband’s extensive network of over 100,000 access points across the United States. With this expansion, Helium aims to improve connectivity options for individual subscribers and larger telecom carriers.
American Bandwidth, known for its extensive Wi-Fi infrastructure, plans to utilize the Helium network to support multiple mobile carriers and virtual network operators throughout North America. This partnership will enable telecom providers to offload some of their traffic onto the Helium network, helping them reduce congestion and operating costs while maintaining seamless connectivity for end-users.
Nova Labs’ decision to streamline its workforce and partner with American Bandwidth underscores its commitment to developing Helium as a competitive decentralized mobile network. By focusing on its core crypto-based mobile services, the company aims to deliver affordable connectivity options while expanding its presence across the U.S.