Plan a Crypto Mine Near a U.S. Military Base? Expect a Bigger Hassle Now

The U.S. Treasury Department issued a rule promising extra scrutiny for businesses near military sites, having already targeted a Chinese-backed crypto operation by a Wyoming missile base.

The U.S. Treasury Department has announced a new rule that will subject foreign real estate transactions near sensitive U.S. military bases to increased scrutiny. This move comes after President Joe Biden ordered a China-linked crypto mining operation to halt its operations near a Wyoming nuclear missile base earlier this year.

The MineOne crypto mining business was being acquired by the U.S. company CleanSpark (CLSK) when it encountered national security concerns from the Committee on Foreign Investment in the United States (CFIUS).

In May, Biden ordered the bitcoin mining facility near Warren Air Force Base to停止操作, citing a threat to national security as it uses foreign-sourced technology. MineOne, which the government noted acquired the property as a business majority-owned by Chinese nationals, set up shop within a mile of the military facility in Cheyenne, which houses Minuteman III intercontinental ballistic missiles (ICBMs).

The new rule issued on Friday expands the government's authority to question foreign real-estate deals near a much longer list of military facilities than before.

"This final rule will significantly increase the ability of CFIUS to thoroughly review real estate transactions near bases and will allow us to deter and stop foreign adversaries from threatening our Armed Forces, including through intelligence gathering," Secretary of the Treasury Janet Yellen said in a statement.