US bans Chinese crypto miner from core base area

US President Joe Biden has ordered a Chinese-owned cryptocurrency miner and its partners to sell land they own near a US nuclear missile base, citing concerns about espionage.

MineOne Partners, which the White House says is majority owned by Chinese citizens, has been given 120 days to sell the property where it runs a crypto mining operation, the BBC reports.

The country is less than a mile from an Air Force base in Wyoming that houses intercontinental ballistic missiles.

“The proximity of foreign-owned real estate to a strategic missile base… and the presence of specialized and foreign equipment that could potentially facilitate surveillance and espionage activities poses a risk to national security,” the White House said in a statement. rack.

Francis E Warren Air Force Base in Wyoming is home to Minuteman III nuclear intercontinental ballistic missiles.

MineOne bought the land near the military base in 2022 and later installed cryptocurrency mining equipment.

The Committee on Foreign Investment in the US (CFIUS), a powerful body that monitors deals for threats to national security, was not informed of the company’s purchase, the White House said.

Authorities were alerted to the transaction following a tip from a member of the public.

The interagency panel, which is led by the U.S. Treasury Department, found that the purchase had national security implications.

President Biden’s decision to force MineOne to sell the country “highlights the critical gatekeeper role that CFIUS plays in ensuring that foreign investments do not undermine our national security,” Treasury Secretary Janet Yellen said in a statement.

There is growing concern among US lawmakers about Chinese purchases of real estate near sensitive military facilities.

The White House’s latest announcement comes just a day before the Biden administration is set to sharply increase tariffs on several Chinese imports, including electric vehicles.