U.S. President Joe Biden has issued an order prohibiting MineOne Cloud Computing Investment I LP from acquiring certain real estate, citing national security concerns. The order is based on findings outlined by the President and is intended to protect critical assets near Francis E. Warren Air Force Base (Warren Air Force Base) in Cheyenne, Wyoming.
The President’s order was based on evidence that MineOne Partners Ltd., a majority-Chinese-owned British Virgin Islands company, and its affiliates were planning to acquire property within one mile of Warren Air Force Base. ing. This property is specifically listed as Lot 1, Block 10 North Range Business Park Third Application, and due to the nature of operations conducted by Mine One, its proximity to a strategic missile base makes it a potential national Biden said it poses a national security risk.
MineOne acquired the property in June 2022 and subsequently developed it for specialized cryptocurrency mining operations. This has raised concerns about surveillance and espionage facilitated by foreign-sourced equipment. The Committee on Foreign Investment in the United States (CFIUS) became involved following public information and identified significant risks to national security associated with the transaction.
presidential order This transaction is completely prohibited and requires MineOne and its affiliates to sell all legal and beneficial ownership of the property within 120 days. In addition, MineOne must remove all equipment and improvements associated with its operations on the premises within 90 days, subject to verification by CFIUS.
Additionally, MineOne and its affiliates are prohibited from having physical or logical access to the property, equipment, or improvements until the sale and demolition is completed to the satisfaction of CFIUS. Any attempt to circumvent or evade this order is strictly prohibited, and the Attorney General is authorized to compel compliance.
In accordance with this order, MineOne and its affiliates must fully cooperate with CFIUS and provide regular updates regarding compliance efforts and timelines for completing divestment and removal actions. Failure to comply with these requirements may result in further enforcement actions and penalties.
