President Biden has issued an executive order to shut down a cryptocurrency mining operation owned by a Chinese company in Cheyenne, Wyoming, due to concerns over national security risks posed by its proximity to a nuclear-armed air force base and a Pentagon-supported data center.
On May 13, 2024, President Joe Biden ordered the closure of a cryptocurrency mining operation in Cheyenne, Wyoming, citing national security risks. This crypto facility, owned by a company with Chinese origins, MineOne Partners Limited, is situated approximately one mile from the F.E. Warren Air Force base, a site involved with the management of nuclear-armed intercontinental ballistic missiles.
The executive order issued by Biden mandates that the facility cease operations immediately, dismantle all equipment within 90 days, and complete the sale or transfer of the property within 120 days. The concerns raised involve the potential use of the facility’s equipment for surveillance and espionage activities due to its proximity to crucial national defense installations, including a nearby Microsoft data center that supports the Pentagon.
The closure follows a report by Microsoft highlighting the risks posed by the Chinese-connected crypto mine to the federal Committee on Foreign Investment in the United States. The report mentioned the risk of “full-spectrum intelligence collection operations” due to the proximity of Chinese nationals and the high level of computing power at the crypto mine.
This action is part of broader efforts to limit foreign influences on critical U.S. infrastructures, reflecting increased scrutiny of Chinese-owned businesses operating in sensitive locations. The decision accompanies other legislative moves, including a recent bipartisan bill led by Biden to ban TikTok unless its Chinese ownership divests, and new laws in Arkansas that restrict foreign ownership of cryptomining facilities.