HomeCryptoBiden prohibits Chinese cryptocurrency mining operations near nuclear missile base

Biden prohibits Chinese cryptocurrency mining operations near nuclear missile base

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US President Orders Chinese-Owned Cryptocurrency Miner to Sell Land Near US Nuclear Missile Base

US President Joe Biden has ordered a Chinese-owned cryptocurrency miner and its partners to sell land they own near a US nuclear missile base, citing spying concerns. MineOne Partners, majority-owned by Chinese citizens, has been given 120 days to sell the property, where it runs a crypto-mining operation. The land is less than a mile away from an air force base in Wyoming, where intercontinental ballistic missiles are stored.

“The proximity of the foreign-owned Real Estate to a strategic missile base… and the presence of specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities, presents a national security risk,” the White House said in a statement.

Francis E. Warren Air Force Base in Wyoming is home to Minuteman III nuclear intercontinental ballistic missiles. MineOne bought the land close to the military base in 2022 and later installed cryptocurrency mining equipment. The Committee on Foreign Investment in the US (CFIUS) was not notified about the purchase by the company, and authorities were alerted to the transaction after a tipoff from a member of the public.

President Biden’s decision to force MineOne to sell the land highlights the critical gatekeeper role that CFIUS serves to ensure that foreign investment does not undermine national security, according to Treasury Secretary Janet Yellen. There has been growing concern among US lawmakers about Chinese purchases of property near sensitive military facilities.

The latest announcement from the White House comes just a day before the Biden administration is set to sharply increase tariffs on several Chinese imports, including electric vehicles. Stay tuned for more updates on this developing story.

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