In a move highlighting growing concerns over national security, President Joe Biden issued an executive order on Monday, compelling MineOne Partners Ltd., a Chinese-backed cryptocurrency mining firm, to divest its land near the Francis E. Warren Air Force Base in Wyoming. The proximity of the firm’s operations to the nuclear missile base was deemed a “national security risk.”
The order mandates MineOne Partners Ltd. and its affiliates to relinquish property operated as a cryptocurrency mining facility, and to remove specific equipment from the site. The decision was made in coordination with the U.S. Committee on Foreign Investment in the United States (CFIUS), a government committee authorized to investigate corporate deals for potential national security threats.
MineOne Partners Land in Wyoming
MineOne Partners Ltd. purchased the land within one mile of the Air Force base in Cheyenne in 2022. However, the purchase was not reported to the CFIUS until after the panel received a public tip, violating the protocol set by the committee.
Although the order did not specify the exact national security concerns, the Treasury Department stated that there were issues with “specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities,” posing a significant national security risk.
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Treasury Secretary Janet Yellen, who chairs the CFIUS, emphasized the committee’s role in ensuring that foreign investments do not undermine national security, especially transactions that pose a risk to sensitive U.S. military installations and involve specialized equipment and technologies.
CFIUS Orders to Sell Land
CFIUS directed MineOne Ltd. to sell the property within 120 days and remove all structures and equipment from the site within 90 days.You May Also Like to UnderstandUS-China Tech War: Apple Removes Meta From PlaystoresA Deep Dive into the Biggest Global Online Scam: China’s Role in 76000 Fake Websites
The move against MineOne Ltd. comes amid escalating tensions between the United States and China, with both countries taking increasingly stringent measures. President Biden, along with his predecessor, former President Donald Trump, has pledged to take a tough stance against China, considering it an emerging geopolitical rival to the United States.
With the U.S. set to impose new tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China, the scrutiny of Chinese-backed firms operating near sensitive military installations is expected to intensify.
Despite the order, MineOne Ltd. did not respond to requests for comment from the Associated Press, leaving the future of its operations near the Francis E. Warren Air Force Base uncertain.