Republican lawmakers seek scrutiny of Bitmain and Cango Inc

Zachary Nunn, a US Republican lawmaker, has called on the federal government to scrutinize bitcoin mining hardware makers Bitmain and Cango Inc., saying the companies' expanding operations in the US could pose a national security risk, according to Bloomberg. Nunn noted that Bitmain and Cango "appear to be expanding their operations in the US through complex ownership structures and financing arrangements that may not be fully transparent to regulators and the public". Representatives for both Bitmain and Cango responded by saying they strictly comply with all US laws and are not affiliated with any government or state-owned enterprise. Bitmain said it was aware of rumours that it planned to buy Cango but that "these rumours are completely untrue", while denying it was exploring direct ownership of US power plants and saying claims that its mining machines could affect infrastructure were "unfounded". Cango said it would not comment on "market rumours" or potential mergers and acquisitions.