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Biden Bans Chinese Cryptocurrency Miners From Land Near Nuclear Missile Base
Image source, Getty Images
Image caption, Joe Biden gave MineOne Partners 120 days to sell land near strategic nuclear plantAbout the item
- Author, João da Silva
- Role, Business journalist
- 14 May 2024, 02:10 BST
Updated 1 hour ago
US President Joe Biden has ordered a Chinese-owned cryptocurrency miner and his partners to sell land they own near a US nuclear missile base, citing espionage concerns.
MineOne Partners, which the White House says is majority owned by Chinese citizens, was given 120 days to sell the property, where it operates a crypto-mining operation.
The land is less than a mile (1.6 km) from an air base in Wyoming where intercontinental ballistic missiles are stored.
BBC News has contacted MineOne Partners and the Chinese embassy in the United States for comment.
“The proximity of foreign-owned real estate to a strategic missile base… and the presence of specialized, foreign-sourced equipment potentially facilitating surveillance and espionage activities presents a national security risk,” The White House said this in a statement.
Francis E. Warren Air Force Base in Wyoming is home to Minuteman III nuclear intercontinental ballistic missiles.
MineOne purchased land near the military base in 2022 and later installed cryptocurrency mining equipment.
The Committee on Foreign Investment in the United States (CFIUS), a powerful body that reviews deals for national security threats, was not notified of the company’s purchase, the White House said.
Authorities were alerted to the transaction after a tip-off from a member of the public.
The interagency committee, led by the US Treasury Department, determined that the purchase had national security implications.
President Biden’s decision to force MineOne to sell the land “highlights the critical watchdog role played by CFIUS to ensure that foreign investment does not undermine our national security,” Treasury Secretary Janet Yellen said in a statement.
There has been growing concern among US lawmakers over Chinese purchases of property near sensitive military facilities.
The latest announcement from the White House comes just a day before the Biden administration is expected to sharply raise tariffs on several Chinese imports, including electric vehicles.