The Biden administration has taken a bold step in the ongoing battle to protect national security by ordering a Chinese-backed cryptocurrency mining company to sell land near a Wyoming nuclear missile base. The company, MineOne, had acquired the real estate in 2022, placing its operations dangerously close to the Francis E. Warren Air Force Base.
President Biden cited “credible evidence” that MineOne, majority-owned by Chinese nationals, posed a threat to national security with its proximity to the strategic missile base. The company was given 120 days to divest from the land and remove certain equipment deemed potentially capable of facilitating surveillance and espionage activities.
This move is part of a wider crackdown on Chinese companies in the U.S., with recent actions including the forced divestiture of TikTok from its Chinese parent company and expected tariffs on Chinese imports. The order against MineOne was the result of an investigation by the U.S. Committee on Foreign Investment in the United States, which has been tasked with reviewing property transactions near sensitive U.S. facilities.
U.S. Treasury Secretary Janet Yellen emphasized the importance of CFIUS in safeguarding national security, stating that the agency plays a critical role in ensuring foreign investment does not undermine the country’s security. China has also increased scrutiny of U.S. companies in recent years, citing its own national security concerns and implementing measures to protect against potential threats.
The ongoing tensions between the U.S. and China highlight the complex relationship between the two global superpowers and the importance of vigilance in protecting national interests.