The US government has opened a security review into Bitmain, the Beijing-based manufacturer that sells most of the world’s Bitcoin mining rigs. A months-long federal investigation, known internally as Operation Red Sunset, has been probing whether Bitmain’s machines can be remotely steered for spying or used to interfere with the American power grid. The question sounds abstract, the kind of thing that belongs in a classified memo. But the answers land in very ordinary places: repair benches in North Dakota, shipping yards in Oklahoma, and the upgrade calendars of every miner who depends on Chinese hardware.
Before you can follow what breaks, you have to understand what Washington is actually doing.
Inside Operation Red Sunset
According to documents reviewed by Bloomberg and people familiar with the matter, Red Sunset has been running across several agencies for roughly two years. Homeland Security is in the lead, with support from the National Security Council. The goal of the inv
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