President Joe Biden has signed an order banning a Chinese-linked crypto mining company from continuing to use land near a nuclear missile base in Wyoming. Biden cited national security concerns as a reason for revoking the company’s ownership rights.

“There is credible evidence that leads me to believe that MineOne Partners Limited, a British Virgin Islands company ultimately majority owned by Chinese citizens, […] could take actions that endanger the national security of the United States.”

Military concerns and corporate interests

MineOne acquired the site in June 2022 and subsequently made improvements to use it for crypto mining close to the air base. The military installation is a strategic missile base and home to intercontinental ballistic missiles, the command said.

The company and its partners must also remove any equipment installed on the site after the improvements. The order also bans further access by Chinese-affiliated entities to the site, which is less than a mile from the base.

MineOne has 120 days from the date of the order to sell the land and may not transfer it to third parties.

Microsoft warns of risks of espionage by Chinese crypto mining company

Technology giant Microsoft previously raised the alarm about this location, where it has its own data center. According to an August 2022 report to the Committee on Foreign Investment in the United States (CFIUS), Microsoft warned that the location could allow the Chinese to “undertake the full spectrum of espionage activities.” This was confirmed in a 2023 study by The New York Times.

Trade €10,000 for free and get a 10 euro bonus

Do you want to enter the crypto world and perhaps buy Bitcoin or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.

Create an account with Bitvavo via the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!


Leave a Reply

Your email address will not be published. Required fields are marked *