Biden bars China-backed crypto mining firm from owning land near US missile base

President Joe Biden issued an order blocking a China-majority-owned crypto mining company from having property close to an Air Force base in Wyoming, citing national security risks concerns.

Biden further required the divestment of the property, which is one mile from the missile base Francis E. Warren Air Force Base, according to a statement released Monday from the U.S. Treasury Department. MineOne Partners Limited, which is majority owned by China, acquired the property in June 2022 and made changes to make room for a crypto mining operation, Treasury said. 

The Committee on Foreign Investment in the United States reviewed the transaction and found national security risks, including surveillance concerns, according to Treasury. 

“Today’s divestment order underscores President Biden’s steadfast commitment to protecting the United States’ national security," said Treasury Secretary Janet Yellen in a statement. "It also 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 U.S. military installations as well as those involving specialized equipment and technologies." 

MineOne did not immediately respond to a request for comment.