President Biden Blocks Chinese-backed Bitcoin Mining Firm From Owning Land Near a Wyoming Nuclear Missile Base

United States President Joe Biden has issued an order prohibiting the acquisition of certain properties by MineOne Cloud Computing Investment I LP, due to national security concerns. The order, based on findings outlined by the President, is intended to protect critical assets near Francis E. Warren Air Force Base (Warren AFB) in Cheyenne, Wyoming.

The President's order stems from evidence indicating that MineOne Partners Limited, a British Virgin Islands company majority owned by Chinese nationals, and related entities, plan to acquire property within one mile of Warren AFB. Biden explained that this property, specifically described as Parcel 1, Block 10 North Range Business Park 3rd Filing, and the nature of operations conducted by MineOne, pose potential national security risks due to its proximity to a strategic missile base.

MineOne acquired the property in June 2022 and later developed it for specialized cryptocurrency mining operations, raising concerns about surveillance and espionage activities facilitated by foreign-sourced equipment. The Committee on Foreign Investment in the United States (CFIUS) became involved after a public tipoff, which then identified significant national security risks associated with the deal.

President to request The transaction is strictly prohibited, requiring MineOne and its affiliates to divest all legal and beneficial ownership rights in the properties within 120 days. Additionally, MineOne must remove all equipment and improvements related to its operations on the property within 90 days, subject to verification by CFIUS.

Furthermore, MineOne and its affiliates are denied any physical or logical access to the properties, equipment or improvements until divestment and divestment are completed to the satisfaction of CFIUS. Any attempt to evade or circumvent this order is strictly prohibited, and the Public Prosecutor is responsible for implementing it.

In response to this order, MineOne and its affiliates are required to fully cooperate with CFIUS and provide regular updates on compliance efforts and timelines for completing divestment and divestment actions. Failure to comply with these requirements may result in further enforcement action and penalties.