U.S. Investigates Chinese Bitcoin Mining Giant Bitmain: From Trump's Family Mining Operations to National Security Red Lines. On November 21, 2025, Bloomberg exclusively reported that the U.S. federal government has launched a months-long national security investigation into Bitmain Technologies Ltd. This Beijing-based company controls over 70% of the global Bitcoin mining machine market but has come under scrutiny in Washington due to concerns that "devices may be remotely controlled," "there are risks of backdoors," and "large-scale deployment in sensitive areas of the U.S."
1. The Trigger: The direct trigger for the investigation of the mining operation supported by Trump's family is a Bitcoin mine located in Wyoming, close to a strategic missile base. This mine is operated by a cryptocurrency company indirectly supported by Trump's two sons, Donald Jr. and Eric, and its main mining machines are the latest Antminer S21 series from Bitmain, totaling 16,000 units. In 2024, the U.S. Committee on Foreign Investment (CFIUS) issued a mandatory review order for the mine, arguing that "the mining machines' computing power is highly concentrated and close to military facilities, which could be used for intelligence gathering or, in extreme cases, for weaponizing computing power attacks." The Treasury Department's press release unusually listed this case as a "significant national security concern."
II. Accusations from the Senate Intelligence Committee In July 2025, the Senate Intelligence Committee of the United States published an attached report to the (Fiscal Year 2026 Intelligence Authorization Act), naming Bitmain for the first time:
Bitmain's mining machine firmware contains modules that can be remotely updated, and the update servers are located in mainland China;
Some chips contain an 'management engine' with undisclosed documentation, theoretically allowing manufacturers to take over devices without user permission;
If Bitmain is pressured by the Chinese government, its control over more than 60% of the global Bitcoin computing power can be mobilized in a short time for a 51% attack or to deny service to U.S. nodes.
The report uses severe language: 'These devices provide potential foreign adversaries with unprecedented control over critical infrastructure.' III. Bitmain's Response In response to the accusations, Bitmain quickly issued a statement:
All mining machine firmware is open-source and auditable, and no backdoors have ever been found;
The remote update function has already been disabled for U.S. customers since 2023;
The company is willing to accept comprehensive testing of hardware and firmware by third-party security agencies from the U.S.;
Accusing the U.S. of this action as 'suppressing Chinese high-tech enterprises in the name of national security.'
IV. Washington's Dilemma For the U.S. government, this is a tricky choice:
On one hand, Bitmain's mining machines have a significantly better cost-performance ratio, with over 90% of equipment from American mining companies (such as Marathon, Riot) still coming from Bitmain, and a complete sales ban would lead to a collapse in competitiveness for American miners after the halving in 2026;
On the other hand, against the backdrop of the 'chip war' escalating into a 'computing power war', it is clearly unacceptable to allow Chinese companies to control the computing power switch of critical energy infrastructure in the U.S.
V. Possible Outcomes According to sources close to CFIUS, the compromise plan currently under discussion includes:
Mandate all Bitmain mining machines operating within the U.S. to replace their firmware with domestically developed versions (led by Core Scientific and Cipher Mining);
Request Bitmain to establish a joint venture in the U.S., and chip production must be completed at TSMC's American factory;
Implement a 'national security license' system for the new generation of mining machines imported after 2026.
Regardless of the final outcome, this investigation surrounding Bitcoin mining machines has dragged cryptocurrency from the fringe of financial toys into the core battlefield of great power rivalry. The once 'decentralized' Bitcoin computing power is becoming one of the most centralized geopolitical bargaining chips.