China-linked crypto firm land buy halted

WASHINGTON — President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base.

The order forces the divestment of property operated as a crypto mining facility near the Francis E. Warren Air Force Base. It also forces the removal of certain equipment owned by MineOne Partners Ltd., a firm that is partly owned by the Chinese state.

The Monday divestment order was made in coordination with the U.S. Committee on Foreign Investment in the United States -- a little-known but powerful government committee tasked with investigating corporate deals for national security concerns that holds power to force companies to change ownership structures or divest completely from the U.S.

MineOne purchased the land that is within one mile of the Air Force base in Cheyenne in 2022, and according to CFIUS, the purchase was not reported to the committee as required until after the panel received a public tip.

The order was vague about the specific national security concerns, with the Treasury Department saying only that there were issues with "specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities" that "presented a significant national security risk."