Elizabeth Warren: Foreign Mining Companies Are Spying on US Military Bases
Date: 2024-07-29 Author: Oliver Abernathy Categories: IN WORLD
US Senator Elizabeth Warren has harshly criticized foreign companies mining cryptocurrency in the United States. In her opinion, these enterprises not only pose a threat to national security, but also harm the country's critical infrastructure. Warren believes that miners can secretly collect data on US military bases.
At a hearing of the Senate Banking, Housing, and Urban Affairs Committee on July 25, 2024, Warren expressed her concerns about the huge energy consumption of mining companies. She said that these enterprises "use a ton of electricity, which can lead to failures in the power grid." In addition, the senator noted that cryptocurrency mining has a significant negative impact on the environment, calling mining farms "noisy and hot."
A Threat to National Security
Warren paid special attention to the issue of ownership of mining companies. According to her, a third of foreign miners in the United States are owned by China, which creates an additional threat to national security. Some of these enterprises, according to the senator, are directly linked to the Chinese government.
"Foreign adversaries are using crypto miners to spy on US military operations. This is an obvious national security risk. But this is not the only problem. Cryptocurrency mining companies also threaten the power grid," Warren said.
Example of the Case of MineOne Partners Ltd.
Warren cited the example of the Chinese company MineOne Partners Ltd., whose controlling stake is owned by the Chinese government. In May 2024, US President Joe Biden issued an executive order banning the firm from owning land near an Air Force base in Wyoming. The move followed an investigation by the Committee on Foreign Investment in the United States (CFIUS) that raised concerns about “specialized” cryptocurrency mining equipment that could facilitate surveillance and espionage.
The Air Force base in question is home to Minuteman III intercontinental ballistic missiles, making it a strategically important facility.
Digital Asset and National Security Issues
Senator Warren also addressed the use of digital assets by foreign nationals to purchase mining facilities in the US. She said that cryptocurrency allows for the circumvention of traditional banking and anti-money laundering regulations, allowing anonymous money to enter the country.
“Foreign nationals have been able to secretly buy up miners in the United States. How? By paying in cryptocurrency. It allows them to bypass our traditional banking system and anti-money laundering rules that are supposed to prevent any anonymous money from coming into the United States from other countries,” Warren said.
Elizabeth Warren’s speech caused a wide resonance, highlighting the seriousness of the problems associated with the activities of foreign mining companies in the United States. The senator expressed concern about the threat to national security and the need to tighten controls over cryptocurrency operations. Her statements raise important questions about the future regulation of the crypto industry and the protection of the country’s critical infrastructure.
