President Joe Biden has issued an order preventing a China-majority-owned cryptocurrency mining company from owning property near a U.S. Air Force base in Wyoming, citing concerns over national security. The directive, announced by the U.S. Treasury Department on Monday, mandates the divestment of the property located just one mile from the Francis E. Warren Air Force Base.

The property in question was acquired by MineOne Partners Limited, a company primarily owned by Chinese interests, in June 2022. Since then, the company has undertaken modifications to establish a cryptocurrency mining operation. The transaction was reviewed by the Committee on Foreign Investment in the United States (CFIUS), which identified potential national security risks, including the threat of surveillance.

“Today’s divestment order underscores President Biden’s steadfast commitment to protecting the United States’ national security,” stated Treasury Secretary Janet Yellen. “It also highlights the critical gatekeeper role that CFIUS serves to ensure that foreign investment does not undermine our national security, particularly as it relates to transactions that present risk to sensitive U.S. military installations as well as those involving specialized equipment and technologies.”

The decision reflects heightened scrutiny over foreign investments in proximity to sensitive military sites. The U.S. government has been increasingly vigilant about potential espionage risks posed by foreign-owned enterprises operating near critical infrastructure and military facilities.

MineOne Partners Limited has not yet responded to requests for comment regarding the divestment order. The move signals a broader effort by the Biden administration to safeguard national security interests in the face of growing technological and economic competition with China.