Today President Biden issued an order prohibiting the purchase and requiring the divestment of certain real estate operating as a cryptocurrency mining facility located within one mile of Francis E. Warren Air Force Base (F.E. Warren AFB). The order also requires the removal of certain improvements and equipment at the property by MineOne Partners Limited, which is ultimately majority owned by nationals of the People's Republic of China; MineOne Cloud Computing Investment I L.P.; MineOne Data Center LLC; and MineOne Wyoming Data Center LLC (collectively MineOne), as well as their affiliates.
MineOne acquired the property in June 2022 and then made improvements to allow for use of specialized cryptocurrency mining operations near F.E. Warren AFB in Cheyenne, Wyoming, a strategic missile base and home to Minuteman III intercontinental ballistic missiles. The Committee on Foreign Investment in the United States (CFIUS or the Committee) reviewed and investigated this transaction pursuant to authorities provided by Congress in the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) to cover real estate transactions in close proximity of certain sensitive U.S. facilities, including F.E. Warren AFB.
The Department of Defense is a member of CFIUS. Through its annual review of Section 802 of FIRRMA, DoD regularly assesses its military installations and the geographic scope around them to ensure appropriate application in light of national security considerations. DoD will continue to assess its military installations on an ongoing basis to ensure the sites listed are appropriate.
DoD has also established inter- and intra-DoD working groups to prioritize and drive action within the Department and across the U.S. Government, including incorporating civilian defense critical infrastructure risks in internal DoD risk management decisions. DoD's relationships with state and local government and industry leaders are crucial to its work securing a robust and resilient industrial base, ensuring the foundation for U.S. military advantage.
For communities with concerns relating to foreign activity adjacent to military installations, DoD encourages them to engage directly with their local installation's public affairs office with any questions or concerns they may have. These communities and the public can also visit DoD's Global Investment and Economic Security website (OUSD A&S - Industrial Base Policy (businessdefense.gov)) to submit a tip about any potential foreign investment that may involve risk to national security and learn more about the work the office does.
Risk Warning: Cryptocurrency is a unregulated virtual notoriously volatile instrument with a high level of risk. Any news, opinions, research, data, or other information contained within this website is provided for news reporting purposes as general market commentary and does not constitute investment or trading advice.
