Bitmain, Cango Face Review Request From US Lawmaker Over National Security Concerns: Report

According to a Bloomberg report, Representative Zackary Nunn of Iowa wrote to Treasury Secretary Scott Bessent that these companies appear to be scaling operations in the U.S. in a way that may not be fully transparent.

Bitmain Technologies, the world’s largest crypto mining hardware maker, and Cango (CANG) have reportedly come under scrutiny from a Republican lawmaker who warned their growing U.S. presence could pose a national security risk.

According to a Bloomberg report, the Representative of Iowa, Zackary Nunn, said Bitmain and Cango’s Bitcoin (BTC) mining hardware operations in the country may fall under the review of the Committee on Foreign Investment in the U.S. (CFIUS), which is headed by Treasury Secretary Scott Bessent. 

“These companies appear to be scaling operations in the U.S. through complex ownership structures and financing arrangements that may not be fully transparent to regulators or the public,” said the letter by the Representative of Iowa, Zackary Nunn, sent to Bessent last week. 

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