President Biden blocks China-backed Bitcoin mining company from owning land near Wyoming nuclear missile base

U.S. President Joe Biden issued an order banning MineOne Cloud Computing Investment I LP from acquiring certain real estate, citing national security concerns. This order, based on findings presented by the President, aims to protect critical assets near Francis E. Warren Air Force Base (Warren AFB) in Cheyenne, Wyoming.

The President’s order stemmed from evidence that MineOne Partners Limited, a British Virgin Islands company majority-owned by Chinese, and related entities were planning to acquire property within a mile of Warren AFB. The property, specifically described as Lot 1, Block 10 North Range Business Park 3rd Filing, and the nature of the operations conducted by MineOne pose a potential national security risk due to its proximity to a strategic missile site, Biden explained.

MineOne developed it for a specialist cryptocurrency mining operation after acquiring the property in June 2022, which has raised concerns about surveillance and espionage through foreign equipment. The Committee on Foreign Investment in the United States (CFIUS) became involved following a public tip and subsequently identified serious risks to national security associated with the transaction.

The President’s order completely prohibits the transaction and requires MineOne and its affiliates to sell all legal and beneficial ownership interests in the property within 120 days. Additionally, MineOne must remove all equipment and improvements associated with operations at the site within 90 days, subject to verification by CFIUS.

Additionally, MineOne and its affiliates are prohibited from having physical or logical access to the property, equipment or improvements until the sale and removal is completed to the satisfaction of CFIUS. Any attempt to evade or evade this order is strictly prohibited, and the Attorney General has the authority to enforce compliance.

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