President Biden Blocks Chinese-Backed Crypto Mining Firm from Owning Land Near Wyoming Nuclear Missile Base

President Joe Biden issued an order on Monday blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, citing national security concerns. The order requires the firm, MineOne Partners Ltd., to divest the property near the Francis E. Warren Air Force Base and remove certain equipment from the site.

This move comes as the U.S. is set to issue new tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China. Both Biden and his Republican challenger, former President Donald Trump, have emphasized being tough on China, highlighting the country as a geopolitical rival.

The divestment order was made in coordination with the U.S. Committee on Foreign Investment in the United States (CFIUS), which has the authority to investigate corporate deals for national security concerns. The law granted CFIUS the power to review real estate transactions near sensitive sites like F.E. Warren Air Force Base.

MineOne purchased land within one mile of the Air Force base in 2022 without reporting it to CFIUS as required. The Treasury Department cited concerns about specialized and foreign-sourced equipment that could facilitate surveillance and espionage activities, posing a significant national security risk.

The firm did not respond to requests for comment, and Treasury Secretary Janet Yellen emphasized the committee’s role in ensuring foreign investment does not undermine national security. CFIUS directed the sale of the property within 120 days and the removal of all structures and equipment within 90 days.

This order underscores the ongoing scrutiny of foreign investments near sensitive U.S. military installations and the government’s efforts to protect national security interests.