Biden Orders Divestment of China-Linked Crypto Mining Firm Near U.S. Nuclear Base

In a move aimed at safeguarding national security interests, President Joe Biden has signed an executive order compelling MineOne Cloud Computing Investment, a China-affiliated crypto mining firm, to cease operations near the Francis E. Warren Air Force Base in Cheyenne, Wyoming. The decision comes amidst growing concerns over the potential threat posed by entities owned by Chinese nationals to the United States' security infrastructure.

The order, unveiled by the White House on May 13, mandates MineOne and its associates to relinquish control of the property used for crypto mining adjacent to the strategic missile base. The location, in proximity to the Air Force base, raised red flags regarding potential security risks. Strategic missile bases, such as the Francis E. Warren Air Force Base, are critical assets for national defense, housing intercontinental ballistic missiles.

MineOne's acquisition of the property in June 2022, followed by subsequent enhancements for crypto mining operations, triggered concerns about the potential for exploitation by foreign entities. The order requires the removal of all equipment installed after the property's acquisition and prohibits any further access by Chinese-linked entities to the site, located less than a mile away from the military installation.

The decision underscores the administration's commitment to safeguarding national security interests, as highlighted by Treasury Secretary Janet Yellen. Yellen emphasized the vital role played by the Committee on Foreign Investment in the U.S. (CFIUS) in scrutinizing foreign investments to prevent any compromise of national security.

This action is part of broader efforts by the Biden Administration to regulate the U.S. Bitcoin mining industry and reduce dependence on Chinese influence in the crypto sector. The crackdown follows China's stringent regulations on crypto mining in 2021, which prompted a migration of mining operations to the United States.

The timing of the executive order coincides with the administration's plans to escalate tariffs on several Chinese imports, including electric vehicles, indicating escalating tensions between the two economic giants. The move underscores the administration's proactive stance in addressing security threats and ensuring the integrity of critical national infrastructure.