Home Uncategorized Joe Biden Orders Chinese Crypto Miner to Sell Land Near US Military Base Over Security Concerns

Joe Biden Orders Chinese Crypto Miner to Sell Land Near US Military Base Over Security Concerns

by dave
5 minutes read

President Joe Biden has ordered a Chinese company that operates a crypto-mining business in Wyoming to sell the land it owns near a U.S. military base. This property is close to Warren Air Force Base, which houses nuclear missiles. The White House announced that the Chinese group, called MineOne Partners, has 120 days to complete the sale.

Why the Sale is Required

The U.S. government is concerned because the group is majority-owned by Chinese nationals and they did not inform U.S. officials about this purchase. The U.S. military believes that having foreign-owned land so close to a strategic missile base could pose a national security risk. Biden said that the specialized equipment used for cryptocurrency mining, which includes foreign-sourced technology, might facilitate surveillance and espionage activities.

Concerns About National Security

Warren Air Force Base in Wyoming is a critical site for the U.S. military as it deploys Minuteman III nuclear intercontinental ballistic missiles. This makes the area very sensitive. The presence of foreign-sourced equipment used by MineOne Partners could potentially be used for spying. Biden’s order states that this situation presents a significant national security risk to the United States.

Increasing Worries Over Foreign-Owned Land

There is growing concern in Congress about Chinese groups buying agricultural and other lands across the U.S., especially near military installations. This latest action comes a year after an American fighter jet shot down a suspected Chinese spy balloon off the U.S. east coast. The balloon had hovered over another nuclear missile facility in Montana during its flight over North America.

Expert Opinions

Ivan Schlager, a national security law expert at Kirkland and Ellis, explained that this issue has been ongoing for decades. He pointed out that there have been many cases where Chinese investors buy land in the U.S., raising security concerns. Schlager questioned whether these investments are just business opportunities or if they have more strategic purposes.

Chinese Embassy’s Response

The Chinese embassy in Washington, D.C. claimed it was unaware of this specific case. Liu Pengyu, a spokesperson for the embassy, said that extending the concept of national security too far and politicizing economic, trade, and investment issues goes against the principles of the market economy and international trade rules. He added that such actions could damage international confidence in the U.S. market.

CFIUS Investigation

MineOne Partners purchased the land in June 2022 without notifying the Committee on Foreign Investment in the United States (CFIUS). This committee is responsible for examining deals for potential security risks. CFIUS began investigating the purchase after receiving a tip from the public. Following this investigation, Biden ordered the sale of the land because it was impossible to reach an agreement to address the security concerns.

Presidential Order Details

The presidential order requires MineOne Partners to remove its equipment from the land within 90 days. The group and its partners are also barred from accessing the location, except for the purpose of moving the equipment, until CFIUS confirms that all the equipment has been removed.

Impact on US-China Relations

This case is the latest example of tensions between the U.S. and China over national security issues. The U.S. and China have been trying to stabilize their relations after they hit a low point last year. Despite these efforts, U.S. officials have emphasized that the Biden administration will take strong actions in cases where they believe China or Chinese companies pose a national security threat.Summary

President Joe Biden’s order for the Chinese crypto miner MineOne Partners to sell land near a U.S. military base in Wyoming highlights ongoing national security concerns. The presence of foreign-owned land and equipment near sensitive military installations is seen as a risk. This move reflects the U.S. government’s increased vigilance against potential espionage activities and foreign investments that could compromise national security.

Key Takeaways

  1. Joe Biden Orders Sale: President Joe Biden has ordered MineOne Partners to sell land near Warren Air Force Base due to security concerns.
  2. National Security Risks: The proximity of the foreign-owned land and specialized equipment poses a significant national security risk.
  3. Congressional Concerns: There is growing concern about Chinese investments in the U.S., especially near military sites.
  4. CFIUS Investigation: The Committee on Foreign Investment in the U.S. investigated the land purchase and recommended the sale.
  5. Impact on US-China Relations: This order is part of broader tensions between the U.S. and China over national security issues.

By enforcing this sale, the U.S. aims to protect its national security while navigating the complex relationship with China.

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