President Biden Issues Order Requiring Chinese Owner to Divest Cryptocurrency Mining Facility Near U.S. Military Base

On May 13, 2024, President Biden issued an order (the “Order”) requiring MineOne Partners Limited, a company majority owned by Chinese nationals, and certain affiliates (together, “MineOne”) to divest previously acquired real estate (the “Real Estate”) in Wyoming located near Francis E. Warren Air Force Base (“Warren AFB”). 

The Order gives MineOne 120 days to divest the Real Estate and includes strict monitoring measures to allow the U.S. government to supervise the sale of the Real Estate to an approved buyer.

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