Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate panel hears experts warn of national-security risks from foreign-linked bitcoin mining
Summary
Experts told the Senate Children and Youth Committee that Bitcoin mining operations can be opaque, often depend on large power contracts, and that foreign-linked ownership and concentrated "hash power" raise national-security concerns; witnesses urged state-level due diligence and clearer reporting requirements.
Senator King heard from two outside experts Dec. 5 about how Bitcoin mining operations can pose national-security and local oversight challenges.
Anita Nikolic, a University of Illinois researcher who leads a DARPA-funded mapping project of U.S. Bitcoin mines, told the committee that mining sites typically require land or a building, low-cost power and internet connectivity and that many U.S. mines are clustered in a limited number of states. "There are facilities, as far as we could find, in 21 states," Nikolic said, and "there are no federal reporting requirements of any type" for mining facilities. She noted large facilities under construction, including one in…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
