On May 13, United States President Joe Biden signed an executive order preventing a China-linked crypto mining firm from continuing its operations on land near a Wyoming nuclear missile base. The firm, MineOne Cloud Computing Investment, and its partners are required to divest from the property located close to the Francis E. Warren Air Force Base in Cheyenne, Wyoming.

Citing national security concerns, Biden's order rescinds MineOne's property rights. The president emphasized the potential threat posed by the firm's Chinese ownership, stating, "There is credible evidence that leads me to believe that MineOne Partners Limited, a British Virgin Islands company ultimately majority owned by Chinese nationals [...] might take action that threatens to impair the national security of the United States."

MineOne acquired the property in June 2022 and repurposed it for crypto mining operations. The site’s proximity to the Air Force base, which houses intercontinental ballistic missiles, raised significant security concerns. The executive order mandates that MineOne and its affiliates remove all installed equipment and prohibits Chinese-linked entities from accessing the site, which is less than a mile from the military base.

The firm has 120 days to sell the property, with restrictions on transferring ownership to third parties. Red flags about the site had been raised previously by Microsoft, which has a data center nearby. In an August 2022 report to the Committee on Foreign Investment in the U.S. (CFIUS), Microsoft warned that the location could enable Chinese entities to conduct comprehensive intelligence operations.

U.S. Treasury Secretary Janet Yellen, who chairs the CFIUS, underscored the importance of the order, noting that it "highlights the critical gatekeeper role that CFIUS serves to ensure that foreign investment does not undermine our national security." MineOne had previously raised over $20 million for its initial fund within a month in 2021, attracting interest from U.S. institutional investors and high-net-worth individuals.

Despite attempts to reach out to MineOne for comments, there was no immediate response. This move by the Biden administration follows previous efforts to crack down on the U.S. Bitcoin mining industry, inspired by China’s stringent measures against crypto mining in 2021, which led to many mining operations relocating to the United States.