Bitmain Under Investigation: US Suspects Espionage Risks for Bitcoin Mining

The Chinese company Bitmain, a leading manufacturer of ASIC chips used for Bitcoin mining, is the focus of an American federal investigation concerning national security risks. This investigation could have significant repercussions for the Bitcoin mining ecosystem and U.S.-China relations.  Bitmain denies any wrongdoing and claims to comply with American laws, but its equipment might pose a threat to national security. The market’s reliance on Bitmain and MicroBT, which dominate the ASIC market at 97%, is under scrutiny as they hold a significant share of the Bitcoin mining industry.