President Joe Biden has taken a significant step in safeguarding national security by issuing an order to halt a crypto mining operation, primarily owned by China, from operating in close proximity to a critical Air Force base in Wyoming.

The decision highlights growing concerns over national security and the delicate balance between foreign investment and safeguarding America's military assets.

A Closer Look at the Divestment Order

The U.S. Treasury Department announced that MineOne Partners Limited, a company with majority Chinese ownership, must divest its property just one mile from Francis E. Warren Air Force Base.

This directive, a result of the Committee on Foreign Investment in the United States (CFIUS) review, has identified significant national security risks associated with MineOne Partners Limited's operations, including potential surveillance threats.

"Today's divestment order, a testament to President Biden's unwavering commitment to safeguarding the United States' national security," affirmed Treasury Secretary Janet Yellen.

Her statement emphasizes the critical role of CFIUS in monitoring foreign investments that could undermine U.S. national security, especially those near sensitive military sites or involving advanced technologies.

MineOne's acquisition of the property in June 2022 and subsequent modifications for crypto mining operations triggered the review. The proximity of their operations to a vital missile base raised alarms, leading to a thorough investigation by CFIUS.

MineOne Partners Limited's response to this order has yet to be publicized. This situation highlights the tension between the burgeoning cryptocurrency industry and national security imperatives.

As the cryptocurrency industry and tech companies strive to expand their operations, they are increasingly confronted with the challenge of balancing their growth with government regulations and security protocols.