In a decisive move to protect national security, President Joe Biden has signed an order mandating the removal of a China-linked crypto mining operation located near the Francis E. Warren Air Force Base in Cheyenne, Wyoming. This action targets MineOne Cloud Computing Investment and its partners, compelling them to cease operations and divest the property they had utilized for cryptocurrency mining since June 2022.
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National Security Concerns
The primary concern driving this order is the proximity of the crypto mining facility to a critical military installation, which houses intercontinental ballistic missiles. President Biden emphasized the national security risk, citing credible evidence suggesting that MineOne Partners Limited, predominantly owned by Chinese nationals, could potentially impair U.S. national security.
Details of the Order
– Immediate Action: The firm is required to divest the property and remove all equipment installed after their acquisition and improvement of the site.
– Prohibited Access: Chinese-linked entities are barred from any future access to the site, which lies less than a mile from the Air Force base.
– Timeframe: The company has 120 days from the issuance of the order to comply, with restrictions against transferring the property to third parties.
Background and Implications
MineOne acquired the property in mid-2022 and quickly developed it into a crypto-mining hub. However, this raised alarms due to its strategic location. Microsoft, which operates a nearby data center, flagged the potential security risks in an August 2022 report to the Committee on Foreign Investment in the U.S. (CFIUS). This report warned that the site’s proximity could enable extensive intelligence collection activities by China.
Treasury Secretary Janet Yellen underscored the critical role of CFIUS in safeguarding against foreign investments that could jeopardize national security, highlighting the importance of such oversight mechanisms.
Broader Context
This action is part of the Biden Administration’s broader strategy to scrutinize and regulate foreign investments in sensitive sectors. The move also aligns with previous measures to curb the influence of foreign-owned crypto mining operations in the U.S., reflecting ongoing concerns about cybersecurity and the integrity of national infrastructure.
The crypto mining industry, which faced significant restrictions in China in 2021, saw many operations relocating to the U.S. This shift has prompted increased vigilance and regulatory actions from U.S. authorities to prevent potential national security threats.
Conclusion
The order to dismantle the Chinese-owned crypto mining facility near the F.E. Warren Air Force Base underscores the U.S. government’s commitment to national security. It serves as a reminder of the critical balance between fostering technological advancement and ensuring the safety and security of the nation’s strategic assets.
For further details and updates, refer to the White House official statement,
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