Biden blocks Chinese-backed crypto mining firm from land ownership near Wyoming nuclear base

The move comes as the US has become increasingly concerned about the national security risks posed by Chinese-led purchases of American property near sensitive military sites.

The property is located within 1 mile (1.6km) of the strategic missile base that is home to part of the US arsenal of intercontinental ballistic missiles.
US President Joe Biden at the White House in Washington on Monday. Photo: EPA-EFE

“The proximity of the foreign-owned Real Estate to a strategic missile base and key element of America’s nuclear triad, and the presence of specialised and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities, presents a national security risk to the United States,” the White House said in a statement.

The White House gave the companies 120 days to divest their shares in the property.

MineOne Partners did not immediately respond to a request for comment.

The divestment order was made in coordination with the US Committee on Foreign Investment in the United States (CFIUS) – a little-known but potentially powerful government agency tasked with investigating corporate deals for national security concerns that holds power to force the company to change.

Reuters reported in 2022 that the Biden administration was investigating Chinese telecoms equipment maker Huawei over concerns that US cell towers fitted with its gear could capture sensitive information from military bases and missile silos that the company could then transmit to China.

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A 2018 law granted CFIUS the authority to review property transactions near sensitive sites across the US, including Francis E Warren Air Force Base.

According to CFIUS, the purchase was not filed with the body, as required, until after the panel received a public tip.

US Treasury Secretary Janet Yellen, who serves as the chairwoman of CFIUS, said the move on Monday “highlights the critical gatekeeper role that CFIUS serves to ensure that foreign investment does not undermine our national security, particularly as it relates to transactions that present risk to sensitive US military installations as well as those involving specialised equipment and technologies”.

Additional reporting by Reuters

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