In a move to protect national security, President Biden ordered the shutdown of a bitcoin mining facility located near Warren Air Force Base in May. The facility, operated by MineOne, was deemed a threat due to its use of foreign-sourced technology. The government raised concerns about the facility’s proximity to the military base in Cheyenne, where Minuteman III intercontinental ballistic missiles (ICBMs) are housed.
The decision to halt operations at the bitcoin mining facility was based on the fact that MineOne is majority-owned by Chinese nationals. This ownership structure raised worries about potential security risks posed by the facility’s operations near a strategic military installation.
President Biden’s order to shut down the bitcoin mining facility underscores the growing concerns about the national security implications of cryptocurrency mining. As the industry continues to expand, regulatory scrutiny is likely to increase, particularly in cases where foreign interests are involved.
