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Biden Administration Halts Chinese-Backed Bitcoin Mining Firm’s Land Purchase Near Wyoming Nuclear Missile Base

President Biden Issues Order Blocking MineOne Cloud Computing Investment I L.P. from Acquiring Land near Wyoming Nuclear Missile Base.

President Joe Biden has issued an order preventing MineOne Cloud Computing Investment I L.P. from purchasing specific real estate, citing national security concerns. The decision, based on findings presented by the President, is aimed at protecting critical assets neighboring Francis E. Warren Air Force Base (Warren AFB) in Cheyenne, Wyoming.

The President’s directive arises from evidence indicating that MineOne Partners Limited, a company based in the British Virgin Islands and predominantly owned by Chinese nationals, along with associated entities, had intentions to acquire property within one mile of Warren AFB. This property, identified as Lot 1, Block 10 North Range Business Park 3rd Filing, and MineOne’s proposed activities, present potential national security threats due to their close proximity to a vital missile base, as elucidated by President Biden. MineOne obtained this real estate in June 2022 and subsequently developed it for specialized cryptocurrency mining operations, sparking concerns regarding potential surveillance and espionage facilitated by equipment of foreign origin.

The Committee on Foreign Investment in the United States (CFIUS) intervened following a public tip-off, identifying significant national security risks linked to the transaction. President Biden’s order outright prohibits the transaction, mandating that MineOne and its affiliates divest all legal and beneficial ownership stakes in the property within 120 days. Furthermore, MineOne must remove all equipment and enhancements related to its operations on the premises within 90 days, with verification by CFIUS.

Additionally, MineOne and its affiliates are prohibited from any physical or digital access to the property, equipment, or enhancements until the divestment and removal procedures are satisfactorily completed, subject to CFIUS’s assessment. Any attempts to evade or circumvent this order are strictly forbidden, with the Attorney General empowered to enforce compliance.

In response to this directive, MineOne and its affiliates must fully cooperate with CFIUS, providing regular updates on compliance endeavors and timelines for executing divestment and removal actions. Failure to comply with these stipulations may result in further enforcement actions and penalties.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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