Nadav Spiegelman

Across U.S., Chinese Bitcoin Mines Draw National Security Scrutiny

https://www.nytimes.com/2023/10/13/us/bitcoin-mines-china-united-states.html
Author
Gabriel J.X. Dance Michael Forsythe
My last highlight
2023-11-06
Number of highlights
2

My Highlights

Some of the U.S. mining operations appear to be straightforward efforts by wealthy Chinese nationals to make money outside the purview of Chinese authorities. For others the ownership is opaque, while several can be traced to the Chinese government.
Since Bitcoin mining was banned in China in May 2021 over concerns about energy usage and economic destabilization, Bitmain has shipped 15 times more equipment to the United States than it did in the previous five years combined, the records show. A recent [presentation](https://youtu.be/GNpd2-w0a3k?feature=shared&t=167) by the company claimed it controlled 90 percent of the global market for the equipment, which is specially designed for Bitcoin mining.