In a significant move underscoring national security priorities, the Biden administration has ordered MineOne, a bitcoin mining facility located near Warren Air Force Base in Cheyenne, Wyoming, to cease operations. This decision comes as the company was in the process of being acquired by the U.S. firm CleanSpark (CLSK), highlighting ongoing concerns regarding foreign ownership and technology in sensitive areas.
The order was issued in May after the Committee on Foreign Investment in the United States (CFIUS) raised alarms about the implications of MineOne’s operations, which involve technology sourced from foreign suppliers. The facility, established by a business predominantly owned by Chinese nationals, is situated less than a mile from a military base that houses Minuteman III intercontinental ballistic missiles (ICBMs). Officials cited the proximity to such critical military assets as a key factor in the decision.
The government’s action reflects a broader initiative to enhance scrutiny over foreign investments, particularly those involving real estate near military installations. A new rule announced recently expands the authority of CFIUS to investigate a wider range of foreign real estate transactions, emphasizing the need to protect national security against potential threats from foreign adversaries.
"This final rule will significantly increase the ability of CFIUS to thoroughly review real estate transactions near bases and will allow us to deter and stop foreign adversaries from threatening our Armed Forces, including through intelligence gathering," stated Secretary of the Treasury Janet Yellen in a press release.
The MineOne case is part of a growing trend where the U.S. government is actively engaging in monitoring and regulating foreign investments that could pose risks to national security. As geopolitical tensions rise, this approach aims to safeguard critical military infrastructure and technology from potential espionage or sabotage by foreign entities.
With the new regulations in place, companies involved in foreign transactions near military bases will likely face more rigorous examinations, underscoring the administration's commitment to national defense and the protection of sensitive information.
November 2024, Cryptoniteuae