Chinese crypto company ordered away from U.S. nuclear base

The Biden administration on Monday ordered a Chinese-owned cryptocurrency mining group called MineOne to sell property near the Francis E. Warren Air Force Base in Cheyenne, Wyo. The base houses intercontinental nuclear ballistic missiles. The specialized, foreign-sourced equipment the company uses near the base is a national security risk, the White House said.

How long has this company been near the base? According to the administration, MineOne acquired the property in 2022. The company did not file the transaction with the Committee on Foreign Investment in the United States or CIFUS. The government later learned about the mining facility's presence from a public tip. The administration has now ordered the transaction to be prohibited.

What happens now? The company has 90 days to get all its equipment off its property. It has 120 days to sell the property to other entities the administration approves of. Until then, MineOne must provide CIFUS weekly reports detailing how it complies with the order to leave the property. U.S. officials will verify the reports by inspecting the company’s books, ledgers, and accounts by officials in the company.

What do other people have to say about this? The order demonstrates that the United States is seeking to protect its military installations from threats, Treasury Secretary Janet Yellen said Monday. WORLD reached out to MineOne but did not receive an immediate response.

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