Biden mandates relocation of Chinese-owned cryptocurrency miner in close proximity to missile base

President Joe Biden has taken action to prevent a Chinese crypto mining firm from using land near a nuclear missile base in Wyoming. The order, issued by the White House, requires MineOne Cloud Computing Investment and its partners to sell the property used as a crypto mining facility near the Francis E. Warren Air Force Base. The decision was made due to concerns over national security. MineOne purchased the property in June 2022 and made improvements to use it for crypto mining in close proximity to the Air Force base. The base is home to intercontinental ballistic missiles and is considered strategically important. The order also prohibits Chinese-linked entities from accessing the site, which is less than a mile away from the base. The company has 120 days to sell the property and is not allowed to transfer it to third parties. Microsoft has previously raised concerns about the site, stating that it could enable the Chinese to conduct intelligence operations. U.S. Treasury Secretary Janet Yellen emphasized the importance of the Committee on Foreign Investment in the U.S. (CFIUS) in protecting national security and ensuring that foreign investments do not undermine it. The Biden administration has also targeted the U.S. Bitcoin mining industry and has cited China as an example to follow in its efforts to regulate the crypto sector. This latest order comes just before the administration plans to increase tariffs on Chinese imports, including electric vehicles.