Biden blocks Chinese crypto miner's land purchase near US base in Wyoming
US President targets foreign crypto mining to safeguard national security.
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President Joe Biden has taken decisive action against a Chinese-backed crypto mining operation located near a key US military base in Wyoming, as reported by Associated Press News.
The President’s order, announced on Monday, mandates the divestment of land owned by MineOne Partners Ltd., which operates a crypto mining facility in proximity to the Francis E. Warren Air Force Base in Wyoming. The firm, partially owned by the Chinese state, has also been instructed to remove certain equipment deemed a national security risk by the US government.
The Treasury Department, while not detailing the specific threats, expressed concerns over “specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities.”
This move aligns with the efforts of the U.S. Committee on Foreign Investment in the United States, a body that scrutinizes corporate transactions for national security implications and has the authority to enforce company compliance with its directives.
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