US Senator Accuses Foreign Crypto Miners of Espionage

Todaysgist.com, Jakarta – US Senator Elizabeth Warren, a crypto critic, has launched a war on digital asset miners, especially foreign-owned facilities. Elizabeth Warren has openly stated that there is a perceived risk to national security with the presence of crypto miners.

During a recent Senate Committee on Banking, Housing and Urban Affairs hearing, Warren questioned Treasury assistant secretary for investment security Paul Rosen about the threat posed by such entities on U.S. soil.

Quoted from cryptopotatoSunday (28/7/2024), Warren said Chinese citizens and people with direct ties to the Chinese government own a third of crypto mining facilities in the US. According to him, they can be used for espionage and threaten the US energy sector, energy resources, and energy supply chains.

He cited a New York Times report that said Chinese-owned Bitcoin mining facilities in the US use enough energy to power 1.5 million homes.

According to Warren, these mining facilities are noisy, hot, and consume a lot of electricity, which can destroy the nation’s greed for electricity. He called crypto mining an environmental disaster, which also poses a national security risk.

“Foreign adversaries are using crypto mining to spy on U.S. military operations. That is a clear national security risk. But it is not the only risk. Foreign-owned crypto mining also threatens the energy grid,” he said.

The politician said national security experts have warned that connecting foreign-owned crypto mining facilities to our energy grid could leave the US vulnerable to targeted power outages and cyberattacks.

Warren further explained that these foreign nationals have been able to purchase US-based crypto mining facilities by paying in crypto, bypassing traditional banking systems and anti-money laundering (AML) measures.