中国的加密货币主导地位对美国构成紧迫的国家安全威胁

比特币价值的飙升和加密货币的增长凸显了加强监管的迫切需要。中国制造的 ASIC 的主导地位对于比特币挖矿至关重要，这给美国金融体系和关键基础设施带来了重大的地缘政治风险。中国通过其供应链主导地位以及采矿设备的潜在漏洞影响或破坏比特币网络的能力引起了人们对网络间谍和破坏活动的担忧。监管机构必须迅速实施网络安全措施，提高供应链透明度，并支持美国比特币挖矿技术行业的发展，以减轻这些风险。

In the rapidly evolving landscape of the United States economy, cryptocurrencies have emerged as a pivotal force, with Bitcoin (BTC) leading the charge. The advent of exchange-traded funds (ETFs) has propelled Bitcoin into newfound prominence, opening the floodgates to a massive influx of new users. While this surge in popularity is largely welcomed, it has also triggered an urgent need for heightened regulatory scrutiny, akin to the safeguards implemented in other rapidly evolving technological domains such as artificial intelligence.

在美国经济快速发展的格局中，加密货币已成为一股关键力量，其中比特币（BTC）处于领先地位。交易所交易基金（ETF）的出现将比特币推向了新的地位，为大量新用户的涌入打开了大门。虽然这种受欢迎程度的激增在很大程度上受到欢迎，但它也引发了加强监管审查的迫切需要，类似于在人工智能等其他快速发展的技术领域实施的保障措施。

At the core of this regulatory necessity lies the growing concern over the national security implications posed by China's dominant role in Bitcoin mining. The United States has demonstrated its resolve in countering perceived technological threats emanating from China, exemplified by decisive actions against entities such as Huawei, TikTok, and Chinese electric vehicle manufacturers. However, the risks associated with cryptocurrencies are particularly alarming, as Bitcoin miners represent a surreptitious, technologically sophisticated layer seamlessly integrated into the United States' energy and telecommunications infrastructure.

这种监管必要性的核心在于，人们越来越担心中国在比特币挖矿领域的主导地位所带来的国家安全影响。美国已经展示了对抗来自中国的技术威胁的决心，对华为、TikTok 和中国电动汽车制造商等实体采取果断行动就是例证。然而，与加密货币相关的风险尤其令人担忧，因为比特币矿工代表着一个秘密的、技术复杂的层，无缝集成到美国的能源和电信基础设施中。

Bitcoin mining, the process by which new Bitcoins enter circulation, underpins the network's security by validating and confirming transactions on the blockchain, Bitcoin's immutable public ledger. Miners engage in intense computational competitions, striving to solve complex mathematical problems. The first miner to crack the code earns the privilege of adding the next block to the blockchain and is rewarded with newly minted Bitcoins and transaction fees.

比特币挖矿是新比特币进入流通的过程，通过验证和确认区块链（比特币不可变的公共分类账）上的交易来支撑网络的安全。矿工们参与激烈的计算竞赛，努力解决复杂的数学问题。第一个破解代码的矿工将获得将下一个区块添加到区块链的特权，并获得新铸造的比特币和交易费用的奖励。

Given its computationally intensive nature, Bitcoin mining requires specialized mining rigs equipped with high-performance computing systems powered by advanced semiconductors known as ASICs. China has established a near-monopoly in the supply of ASICs for Bitcoin mining, controlling an astonishing 98% of the market. A handful of major manufacturers, including Bitmain, dominate this sector, utilizing state-of-the-art manufacturing processes employed by TSMC, such as the cutting-edge 3nm technology.

鉴于其计算密集型性质，比特币挖矿需要配备高性能计算系统的专用挖矿设备，该系统由先进的半导体（称为 ASIC）提供支持。中国在比特币挖矿专用 ASIC 供应方面建立了近乎垄断的地位，控制着令人震惊的 98% 的市场份额。包括比特大陆在内的少数主要制造商利用台积电采用的最先进的制造工艺（例如尖端的 3nm 技术）在该领域占据主导地位。

This Chinese dominance in Bitcoin mining poses a multifaceted threat to United States trade policy, competitiveness, and national security. Despite tariffs imposed on Chinese imports stemming from ongoing trade disputes, Chinese companies like Bitmain have found ingenious ways to circumvent these measures. They establish subsidiaries or affiliates in other countries and resort to aggressive dumping and price-cutting tactics, effectively stifling the growth of domestic ASIC suppliers in the United States. This undermines both the tariffs and the much-touted CHIPS Act, which aims to bolster semiconductor manufacturing within America's borders.

中国在比特币挖矿领域的主导地位对美国的贸易政策、竞争力和国家安全构成了多方面的威胁。尽管由于持续的贸易争端而对中国进口商品征收关税，但比特大陆等中国公司已经找到了巧妙的方法来规避这些措施。他们在其他国家设立子公司或联属公司，并采取激进的倾销和降价策略，有效遏制了美国国内ASIC供应商的增长。这破坏了关税和备受推崇的芯片法案，该法案旨在加强美国境内的半导体制造。

As Bitcoin mining facilities proliferate across the United States, many of which are owned and operated by Chinese entities, their proximity to critical infrastructure has raised alarm bells among national security experts. These facilities are viewed as potential Trojan horses, providing Chinese intelligence agencies with a covert platform for cyber-espionage. Military installations, power grids, and communication networks could all become targets of such malicious activities.

随着比特币挖矿设施在美国各地激增（其中许多由中国实体拥有和运营），它们与关键基础设施的距离给国家安全专家敲响了警钟。这些设施被视为潜在的特洛伊木马，为中国情报机构提供了进行网络间谍活动的秘密平台。军事设施、电网和通信网络都可能成为此类恶意活动的目标。

Chinese companies, whether state-owned or private, are legally bound to cooperate with intelligence services upon request. This raises the specter of Chinese authorities exploiting their influence within seemingly innocuous crypto mining operations to gather sensitive data on domestic affairs within the United States.

中国企业，无论是国有企业还是私营企业，都有法律义务根据要求与情报部门合作。这引发了人们对中国当局利用其在看似无害的加密货币挖矿业务中的影响力来收集有关美国国内事务的敏感数据的担忧。

Furthermore, the inherent technical complexity of crypto mining equipment introduces potential backdoor vulnerabilities. Experts caution that Chinese-manufactured hardware could harbor hidden security flaws embedded in firmware or software, enabling covert data transmission or even remote sabotage of critical infrastructure.

此外，加密货币挖矿设备固有的技术复杂性引入了潜在的后门漏洞。专家警告说，中国制造的硬件可能在固件或软件中隐藏隐藏的安全漏洞，从而实现秘密数据传输，甚至对关键基础设施进行远程破坏。

The growing integration of Bitcoin and related blockchains into the fabric of the United States financial system and economy further amplifies the risks. An estimated 40% of American adults hold cryptocurrencies, and the Bitcoin mining industry is projected to expand at a steady 9% compounded annual growth rate through 2029. Any major disruption in trading, mining activity, or price stability would have profound consequences.

比特币和相关区块链日益融入美国金融体系和经济结构，进一步放大了风险。据估计，40% 的美国成年人持有加密货币，预计到 2029 年，比特币采矿业将以 9% 的复合年增长率稳定扩张。交易、采矿活动或价格稳定的任何重大干扰都将产生深远的后果。

The reliance on Chinese suppliers for Bitcoin transaction validation poses a grave risk to the United States financial system. With such a commanding presence in the domestic crypto mining industry, China could potentially exert influence or even disrupt operations during periods of heightened geopolitical tensions. Restrictions on Bitcoin mining rig imports or manipulation of the Bitcoin network could destabilize the cryptocurrency's functioning, negatively impacting users, investors, and financial institutions alike.

对中国供应商进行比特币交易验证的依赖对美国金融体系构成了严重风险。由于中国在国内加密货币挖矿行业占据主导地位，因此在地缘政治紧张局势加剧期间，中国可能会施加影响，甚至扰乱运营。对比特币采矿设备进口的限制或对比特币网络的操纵可能会破坏加密货币功能的稳定性，从而对用户、投资者和金融机构等产生负面影响。

Given the magnitude of these risks, swift and decisive action is imperative. A comprehensive regulatory framework must be established to safeguard United States national interests and vigorously enforce existing policies. This includes implementing stringent cybersecurity protocols and monitoring mechanisms within mining facilities, demanding greater supply chain transparency, conducting thorough background checks on Bitcoin mining investors, and fostering international cooperation to address cross-border security concerns and prevent regulatory arbitrage.

鉴于这些风险的严重性，必须采取迅速而果断的行动。必须建立全面的监管框架来维护美国的国家利益并大力执行现有政策。这包括在采矿设施内实施严格的网络安全协议和监控机制，要求提高供应链透明度，对比特币采矿投资者进行彻底的背景调查，以及促进国际合作以解决跨境安全问题并防止监管套利。

Most critically, the United States must invest in and incentivize domestic production of advanced Bitcoin mining technologies. The CHIPS Act offers a catalyst for this endeavor, and the private sector must embrace this opportunity with fervor. Robust domestic manufacturing will not only mitigate security and economic risks but also ensure a resilient supply chain, foster economic growth, and establish long-term technological leadership in this burgeoning industry.

最关键的是，美国必须投资并激励先进比特币挖矿技术的国内生产。 《CHIPS 法案》为这一努力提供了催化剂，私营部门必须热情拥抱这一机会。强劲的国内制造业不仅可以减轻安全和经济风险，还可以确保供应链有弹性，促进经济增长，并在这个新兴行业中建立长期的技术领先地位。

Finally, the United States should take an unequivocal stand by prohibiting the use of Chinese-manufactured mining hardware within its borders, mirroring the measures taken to protect the communications sector with the ban on Huawei for 5G networks. Chinese-owned Bitcoin mining operations should also be barred from operating on American soil. The existing framework of the Committee on Foreign Investment in the United States (CFIUS) should be extended to encompass Bitcoin mining activities.

最后，美国应该采取明确立场，禁止在其境内使用中国制造的挖矿硬件，就像禁止华为参与 5G 网络一样，为保护通信行业而采取的措施。中国拥有的比特币挖矿业务也应被禁止在美国境内运营。美国外国投资委员会（CFIUS）的现有框架应扩大到涵盖比特币挖矿活动。

Authoritarian regimes often perceive decentralized power structures as a threat. Bitcoin's decentralized nature fosters open participation and global collaboration, creating a diverse and geographically dispersed ecosystem that transcends national boundaries. However, the creation of a highly centralized supply bottleneck, controlled by a notoriously unpredictable country, undermines these core principles. More importantly, it jeopardizes the long-term viability of the cryptocurrency ecosystem while providing a Trojan horse for Chinese technological dominance in the United States.

独裁政权常常将分散的权力结构视为一种威胁。比特币的去中心化性质促进了开放参与和全球协作，创造了一个超越国界的多元化且地理分散的生态系统。然而，由一个出了名的不可预测的国家控制的高度集中的供应瓶颈的形成破坏了这些核心原则。更重要的是，它危及了加密货币生态系统的长期生存能力，同时为中国在美国的技术主导地位提供了特洛伊木马。

The United States must act decisively to protect its national interests and ensure the integrity and resilience of its economy and financial system. Swift regulatory intervention, coupled with strategic investment in domestic technologies, is paramount. The stakes are high, and the time for action is now.

美国必须采取果断行动，保护其国家利益，确保其经济和金融体系的完整性和弹性。迅速的监管干预以及对国内技术的战略投资至关重要。风险很高，现在是采取行动的时候了。