Under a newly introduced rule by the US Department of the Treasury, foreign real estate transactions near sensitive US military bases will face heightened government examination. This development comes after President Joe Biden intervened in a China-linked crypto mining operation located near a Wyoming nuclear missile base earlier this year.
The operation, known as MineOne, was in the process of being acquired by the US firm CleanSpark when it raised national security concerns with the Committee on Foreign Investment in the United States. In May, Biden ordered the cessation of the bitcoin mining facility near Warren Air Force Base, citing a threat to national security due to its use of foreign-sourced technology.
MineOne, which was noted to be a business majority-owned by Chinese nationals, had set up its operations within close proximity to the military facility in Cheyenne, where Minuteman III intercontinental ballistic missiles are housed. The newly introduced rule expands the government's authority to scrutinize foreign real estate deals near a broader range of military facilities.
According to Secretary of the Treasury Janet Yellen, 'This final rule will significantly enhance the ability of CFIUS to thoroughly review real estate transactions near bases, allowing us to deter and prevent foreign adversaries from threatening our Armed Forces, including through intelligence gathering.'