According to PANews, U.S. Republican Congressman Zachary Nunn has called for a federal review of Bitcoin mining hardware manufacturers Bitmain and Cango Inc., citing potential national security risks due to their expanding operations in the United States. Nunn expressed concerns that these companies might be using complex ownership structures and financing arrangements to grow their presence, which could obscure transparency for regulators and the public.
Representatives from Bitmain and Cango responded by asserting their strict compliance with all U.S. laws and denying any affiliations with government or state-owned enterprises. Bitmain addressed rumors about its plans to acquire Cango, stating these claims are entirely false, and dismissed suggestions that its mining equipment could impact infrastructure as baseless. Cango declined to comment on market rumors or potential mergers and acquisitions.
Nunn has requested the Committee on Foreign Investment in the United States (CFIUS), led by Bessent, to investigate. CFIUS is an interagency body responsible for assessing national security risks posed by foreign companies entering the U.S. market. Nunn urged CFIUS to examine specific allegations, including Cango's potential ties to foreign government entities, Bitmain's possible acquisition of Cango, and Cango's electricity usage in the U.S. Nunn's congressional subcommittee focuses on reviewing U.S.-China competition in defense, technology, and economic sectors.
