President Joe Biden has taken action to prevent a China-linked crypto mining company from using land near a nuclear missile base in Wyoming. The order, released by the White House on May 13, requires MineOne Cloud Computing Investment and its partners to divest the property they have been using for crypto mining near the Francis E. Warren Air Force Base. Citing national security concerns, Biden’s order revokes the firm’s property rights. MineOne had acquired the property in June 2022 and made improvements to use it for crypto mining, which raised concerns due to its proximity to the strategic missile base. The order also prohibits Chinese-linked entities from accessing the site. The company has 120 days to sell the property and cannot transfer it to third parties. Microsoft had previously raised concerns about the site, stating that it could enable the Chinese to conduct intelligence operations. U.S. Treasury Secretary Janet Yellen emphasized the role of the Committee on Foreign Investment in the U.S. (CFIUS) in safeguarding national security. The Biden administration has been cracking down on the U.S. Bitcoin mining industry, taking cues from China’s actions in the sector. The latest order comes just before an increase in tariffs on several Chinese imports.
Biden directs relocation of Chinese-owned crypto mining facility in close proximity to missile base.