Chinese Crypto Company Ordered to Surrender Land Near Nuclear Base

(USNewsMag.com) – Citing concerns related to national security, President Joe Biden recently issued an order that would force a Chinese-funded cryptocurrency mining company to liquidate its land holdings near a base in Wyoming housing nuclear missiles.

Biden issued the order on Monday, May 13th, which would force the Chinese-backed company MineOne to sell real estate it acquired in the summer of 2022.

One reason for Biden’s order is the property’s proximity to Francis E. Warren Air Force Base. The strategic base, which the White House called a “key element of America’s nuclear triad,” is located just a mile from the cryptocurrency mining operation.

The main reason, according to the order, is that a federal investigation found that the company possessed foreign-sourced, specialized equipment at its facility with the potential capabilities to facilitate activities related to “surveillance and espionage” which could pose a threat to national security so close to a nuclear missile silo.

The president said “credible evidence” was uncovered leading the federal government to suspect that MineOne, which is based out of the British Virgin Islands and primarily owned by Chinese nationals, “might take action” that could impair U.S. national security. The firm now has 120 days from the date of the order to sell the Wyoming land, and to remove particular alterations to the real estate as well as specific equipment located there.

The decision comes during a broader crackdown in the U.S. on Chinese-owned or affiliated companies. The most notable example is the possible ban on the social media app TikTok, which is owned by the Chinese company ByteDance. The Biden administration cites similar national security concerns.

Lawmakers who support the ban, which would only happen if ByteDance refuses to liquidate its shares in the social media app, believe that American user data may be shared with the Chinese government. There are also concerns that China could be using the app, which is very popular in the US, to psychologically influence American youth.