Tag: bitmain

US Probes Bitmain ASICs for National Security Risks: Report

The post US Probes Bitmain ASICs for National Security Risks: Report appeared com. The leading Bitcoin mining application-specific integrated circuit (ASIC) manufacturer, Bitmain, which is based in China, is reportedly under investigation in the US over national security concerns. According to a Friday Bloomberg report, an unspecified US official and six other anonymous people familiar with the matter said that Bitmain’s hardware is at the center of a federal investigation known as “Operation Red Sunset.” The investigation, led by the US Department of Homeland Security, reportedly seeks to determine whether the ASICs could be remotely controlled for spying or to sabotage the US power grid. US authorities previously investigated Bitmain-linked Chinese chip designer Xiamen Sophgo over an alleged business relationship with US-sanctioned company Huawei in October 2024. This was followed by the US Customs and Border Protection Agency halting the delivery of thousands of Bitmain ASICs the following month. Authorities only began releasing the hardware in March this year. Consequences for the US crypto mining industry could be far-reaching, since Bitmain controls over 80% of the Bitcoin mining ASIC market, according to a Cambridge report. Chinese dominance in the industry is even more ironclad, with both Bitmain and the second-largest manufacturer, MicroBT, based in mainland China, controlling 97% of the market share on their own. Mining hardware distribution by manufacturer chart. They declined to say whether anything was found. A Bitmain spokesperson told Bloomberg that it’s “unequivocally false” that the company is capable of remotely controlling its machines. Instead, the company representative claimed that it “strictly complies with US and applicable laws and regulations and has never engaged in activities that pose risks to US national security,” and is unaware of the investigation. Donald Trump’s skin in.