U.S. President Joe Biden has taken decisive action by signing an order aimed at halting a China-linked cryptocurrency mining company's operations near a strategic nuclear missile site in Wyoming. The executive order, issued on May 13, mandates MineOne Cloud Computing Investments and its associates to divest the property utilized as a cryptocurrency mining facility near the Francis E. Warren Air Force Base in Cheyenne, Wyoming. This move underscores national security concerns voiced by the White House.
Citing credible evidence, President Biden expressed apprehension regarding potential actions by MineOne Partners Limited, a company primarily owned by Chinese nationals, which could pose risks to U.S. national security. MineOne acquired the property in June 2022 and subsequently repurposed it for cryptocurrency mining operations, located in close proximity to the Air Force base housing intercontinental ballistic missiles.
The order necessitates the removal of all equipment installed at the site by MineOne and its affiliates following property improvements. Furthermore, entities with ties to China are prohibited from accessing the base, situated less than a mile away. The company is mandated to sell the property within 120 days from the issuance of the order, with strict restrictions against transferring it to a third party.
Concerns raised by tech giant Microsoft in the past regarding the strategic implications of the site add weight to the White House's decision. Microsoft highlighted the potential for the location to facilitate intelligence-gathering operations by Chinese entities, as documented in a 2022 report to the Committee on Foreign Investment in the United States (CFIUS).
Treasury Secretary Janet Yellen, who chairs the CFIUS, emphasized the committee's pivotal role in safeguarding national security interests. She underscored the significance of the order compelling MineOne to divest its land, aligning with CFIUS's mandate to prevent foreign investments from compromising U.S. security. This action reflects the Biden administration's commitment to bolstering security measures, particularly in critical sectors like cryptocurrency mining, amidst escalating tensions with China.
