The U.S. government has intervened to prevent MineOne Partners Ltd., a firm with partial Chinese state ownership, from maintaining its operations near a critical national security site. MineOne, which specializes in cryptocurrency mining, had purchased land in close proximity to the Francis E. Warren Air Force Base in Wyoming, an installation that houses intercontinental ballistic missiles.
Labeling the proximity of MineOne’s operations as a national security risk, the White House expressed concerns about potential surveillance and espionage, given the sensitive location and the nature of the technology involved. The administration’s statement emphasized the strategic importance of the base, which plays a pivotal role in America’s nuclear defense capabilities.
The decision to force a divestiture was influenced by the findings of the Committee on Foreign Investment in the United States (CFIUS). This body, which reviews foreign investments for potential security risks, acted under the Foreign Investment Risk Review Modernization Act. This act allows CFIUS to scrutinize real estate transactions close to sensitive U.S. facilities, such as military bases.
CFIUS’s investigation revealed that the MineOne property hosted specialized and foreign-sourced equipment suitable for crypto mining, which posed additional security concerns due to its capabilities and origins. The firm was ordered to sell the property and remove the equipment.
This incident is part of a broader trend of heightened U.S. vigilance over foreign investments near key military and strategic sites, especially those involving countries with which the U.S. has complex geopolitical relations, such as China. The U.S. Treasury Secretary, Janet L. Yellen, underscored the importance of CFIUS in ensuring that foreign investments do not compromise national security, particularly in relation to sensitive military installations.
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