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

The U.S. Treasury Department has issued a new rule promising increased scrutiny for businesses established near military bases. This follows concerns after a Chinese-backed crypto operation was discovered close to a missile base in Wyoming.

After the U.S. president weighed in to put a stop to a China-tied crypto operation near a nuclear missile base, the Treasury Department has finalized a rule to tighten scrutiny on foreign property near military installations.
(Después de que el presidente de EE. UU. interviniera para detener una operación de criptomonedas ligada a China cerca de una base de misiles nucleares, el Departamento del Tesoro ha finalizado una regla para aumentar la supervisión sobre propiedades extranjeras cerca de instalaciones militares.)

The new guidelines will empower the U.S. government to vet real estate acquisitions, including the bitcoin mining operation by MineOne.

Details of the New Rule

The recent regulation emerges in light of the growing risks associated with foreign investments near sensitive military locations. Now, the government can scrutinize real estate transactions near a longer list of military bases.

"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 Janet Yellen stated.

Previously, MineOne was acquired by CleanSpark (CLSK), but national security issues halted its operations following a federal review. In May, President Biden ordered operations to cease at the bitcoin mining facility near Warren Air Force Base, deeming it a national security risk due to foreign tech involvement.

For details on associated risks, read more about the implications of these regulatory changes.