China Crypto-miner Ordered to Sell Land

Reuters

Hey folks.

The Chinese owned crypto miner and its partners have been ordered by the President of United States Biden to sell land near the country's nuclear missile base, quoting spying concerns.

Minone Partners, which according to the White House is majority owned by citizens of China. Minone Partners has been given 120 days to sell the land where it is running a crypto mining operation.

An airforce base in Wyoming where intercontinental ballistic missiles are stored, is less than a mile away from the land.

The land was bought by Mineone near the military base back in 2022 and later installing mining equipment for cryptocurrency.

The White House stated that the corporation had not informed the Committee on Foreign Investment in the US (CFIUS), a strong committee that reviews agreements for potential dangers to national security.

Led by the United States Treasury Department, the inter-agency panel, determined that the purchase had implications related to national security.

Treasury Secretary Janet Yellen stated in a statement that President Biden's decision to order MineOne to sell the land "highlights the critical gatekeeper role that CFIUS serves to ensure that foreign investment does not undermine our national security."

Among the United States lawmakers, there has been growing concerns about the purchases of property by Chinese near sensitive military facilities.

Just one day before the Biden administration is scheduled to impose steep tariffs on a number of Chinese imports, including electric cars, the White House has made its most recent pronouncement.

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