US Bans Chinese Crypto-Mining Operations Near Nuclear Bases

US President Joe Biden has issued a directive for a Chinese-owned cryptocurrency mining company and its associates to divest their ownership of land near a US nuclear missile base, citing concerns about espionage.

The White House stated that MineOne Partners, which it claims is predominantly owned by Chinese nationals, has been instructed to sell the property within 120 days, where it operates a crypto-mining facility.

This land is located less than a mile away from an air force base in Wyoming, where intercontinental ballistic missiles are housed.

According to a statement from the White House, "The close 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, poses a national security risk."

The Francis E. Warren Air Force Base in Wyoming houses Minuteman III nuclear intercontinental ballistic missiles.

MineOne acquired the land near the military base in 2022 and subsequently installed equipment for cryptocurrency mining. The White House stated that the Committee on Foreign Investment in the US (CFIUS), a significant body that reviews deals for national security threats, was not informed about the purchase by the company.

Authorities were made aware of the transaction following a tipoff from a member of the public. The inter-agency panel, led by the US Treasury Department, concluded that the acquisition had national security implications.

In a statement, Treasury Secretary Janet Yellen emphasized that President Biden's decision to compel MineOne to sell the land "underscores the critical role that CFIUS plays in ensuring that foreign investment does not undermine our national security."

There has been mounting concern among US lawmakers regarding Chinese acquisitions of property near sensitive military installations.

The recent announcement from the White House comes just before the Biden administration is scheduled to significantly raise tariffs on...