The Bottom Line Upfront

President Joe Biden has signed an executive order requiring Chinese-backed cryptocurrency mining firm MineOne to sell its facilities located near a US missile base in Wyoming within 120 days. The White House contends that MineOne's equipment could be used for surveillance and espionage, posing a national security risk.

The Breakdown

  • The proximity of MineOne's facility to the Francis E. Warren Air Force base, where nuclear missiles are housed, raises concerns about potential threats to national security. This move reflects the US government's increasing scrutiny of Chinese-owned companies operating near sensitive military installations.
  • President Biden has ordered MineOne, a Chinese-backed cryptocurrency mining firm, to sell its facilities near a US missile base in Wyoming.
  • The order was issued due to concerns that MineOne's equipment could be utilized for surveillance and espionage, posing a risk to national security.