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? MineOne acquired the property in 2022, according to the administration. The company did not file the transaction with the Committee on Foreign Investment in the United States, or CIFUS. The government found out about the presence of the mining facility later, from a public tip. The administration has now ordered the transaction prohibited.
What happens now? The company has 90 days to get all of 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.
Dig deeper: Read Lauren Canterberry’s report in WORLD Magazine about a police crackdown on a ransomware group.
