Biden Bans Real Estate Purchase by Chinese-Linked Cryptocurrency Mining Company Near U.S.A.F. Base

U.S. President Joe Biden has issued an order prohibiting the purchase and requiring the divestment of a cryptocurrency mining facility located within one mile of Francis E. Warren Air Force Base (F.E. Warren AFB) in Cheyenne, Wyoming.

This order also mandates the removal of specific improvements and equipment at the property by MineOne Partners Limited, a company majority-owned by nationals of the People's Republic of China; MineOne Cloud Computing Investment I L.P.; MineOne Data Center LLC; and MineOne Wyoming Data Center LLC (collectively known as MineOne), along with their affiliates.

MineOne acquired the property in June 2022 and subsequently made improvements to enable specialized cryptocurrency mining operations near F.E. Warren AFB, a strategic missile base housing Minuteman III intercontinental ballistic missiles. The Committee on Foreign Investment in the United States (CFIUS) reviewed and investigated this transaction under the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which authorizes the review of real estate transactions near sensitive U.S. facilities, including F.E. Warren AFB.

The Department of Defense (DoD), a member of CFIUS, regularly assesses its military installations and their surrounding areas through its annual review under Section 802 of FIRRMA to ensure national security considerations are met. The DoD said it will continue ongoing evaluations to maintain the appropriateness of these sites.

The DoD has also established inter- and intra-departmental working groups to prioritize and coordinate actions within the Department and across the U.S. Government. This includes incorporating civilian defense critical infrastructure risks into the DoD's risk management decisions. Collaborations with state and local governments, as well as industry leaders, are crucial to securing a robust and resilient industrial base, which underpins U.S. military advantage.

The DoD encourages communities with concerns about foreign activities near military installations to contact their local installation's public affairs office. The public can also visit the DoD's Global Investment and Economic Security website to submit tips about potential foreign investments that might pose national security risks and to learn more about the office's work.