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

As a seasoned crypto investor with over two decades of experience under my belt, I’ve seen my fair share of market fluctuations and geopolitical maneuvers. The recent turn of events regarding foreign property acquisitions near sensitive U.S. military bases has piqued my interest.

Under a fresh rule by the U.S. Department of the Treasury, transactions involving foreign real estate near critical American military bases will receive increased government examination. This new measure follows President Joe Biden’s decision to close down a cryptocurrency mining operation with ties to China that was situated near a Wyoming nuclear missile base earlier this year.

During the process of being purchased by the American company CleanSpark (CLSK), the business MineOne encountered obstacles due to potential national security issues raised by the Committee on Foreign Investment in the United States (CFIUS).

In May, Biden requested that the bitcoin mining operation situated close to Warren Air Force Base halt its activities. He justified this decision by pointing out a potential risk to national security since the facility employs technology originating from foreign sources. Notably, MineOne – a company with a majority ownership from Chinese nationals as per government records – had established their operations just a mile away from the military base in Cheyenne, which is home to Minuteman III intercontinental ballistic missiles (ICBMs).

On Friday, a new rule was released that broadens the government’s power to scrutinize property transactions involving foreign entities in proximity to a more extensive array of military installations compared to previous instances.

As a researcher, I’d rephrase it like this: “In my role, I’m announcing that this final rule enhances CFIUS’s capacity to conduct comprehensive reviews of real estate transactions close to military bases. This empowers us to thwart and prevent foreign adversaries from endangering our Armed Forces, a risk that includes intelligence gathering.