A Chinese-owned cryptocurrency mine that set up a mile away from F.E. Warren Air Force Base is a national security risk and must shut down and sell out, according to an executive order issued by the Biden administration.
President Joe Biden on Monday afternoon issued an executive order that requires offshore cryptocurrency company MineOne Partners Limited, as well as any related MineOne entities, to immediately cease operation, remove all equipment and improvements, and transfer ownership of their facility to an approved buyer.
The order gives the company 120 calendar days to complete the transfer of its real estate, and to certify that transfer in writing to the Committee on Foreign Investment (CFIUS).
The order notes that CFIUS was never notified by the company — as it should have been — that a Chinese-owned cryptocurrency mining operation had set up near F. E. Warren. Instead, CFIUS found out through a tip from a member of the general public.
The individual or individuals who tipped CFIUS off were not identified.
F.E. Warren Air Force Base is a strategic missile base and home to the Minutemen III Intercontinental Ballistic Missiles, which are a key element of the nation’s nuclear triad.
Biden’s order said there is “credible evidence” that suggests MineOne Partners Limited and its associated subsidiaries could “take action that threatens to impair the national security of the United States.”