Presidential Document2024-10966
Regarding the Acquisition of Certain Real Property of Cheyenne Leads by MineOne Cloud Computing Investment I L.P.
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Published
May 16, 2024
Issuing agencies
Executive Office of the President
Full Text
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<title>Federal Register, Volume 89 Issue 96 (Thursday, May 16, 2024)</title>
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[Federal Register Volume 89, Number 96 (Thursday, May 16, 2024)]
[Presidential Documents]
[Pages 43301-43304]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-10966]
[[Page 43299]]
Vol. 89
Thursday,
No. 96
May 16, 2024
Part III
The President
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Order of May 13, 2024--Regarding the Acquisition of Certain Real
Property of Cheyenne Leads by MineOne Cloud Computing Investment I L.P.
Presidential Documents
Federal Register / Vol. 89 , No. 96 / Thursday, May 16, 2024 /
Presidential Documents
___________________________________________________________________
Title 3--
The President
[[Page 43301]]
Order of May 13, 2024
Regarding the Acquisition of Certain Real
Property of Cheyenne Leads by MineOne Cloud Computing
Investment I L.P.
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, including section 721 of the Defense
Production Act of 1950, as amended (section 721), 50
U.S.C. 4565, it is hereby ordered as follows:
Section 1. Findings. I hereby make the following
findings:
(a) There is credible evidence that leads me to
believe that (1) MineOne Partners Limited, a British
Virgin Islands company ultimately majority owned by
Chinese nationals (``MineOne Partners''); (2) MineOne
Cloud Computing Investment I L.P., a British Virgin
Islands limited partnership (``MineOne Cloud''); (3)
MineOne Data Center LLC, a Delaware limited liability
company (``MineOne Data''); and (4) MineOne Wyoming
Data Center LLC, a Delaware limited liability company
(``MineOne Wyoming'' and together with MineOne
Partners, MineOne Cloud, MineOne Data, and MineOne
Wyoming, the ``Purchasers''), through the acquisition
of certain real estate that is located within 1 mile of
Francis E. Warren Air Force Base (``Warren AFB'')
(specifically, the 12.06 acres described as Lot 1,
Block 10 North Range Business Park 3rd Filing, located
at 635 Logistics Drive, Cheyenne, Wyoming, 82009) (the
``Real Estate'' and such acquisition the
``Transaction''), might take action that threatens to
impair the national security of the United States;
(b) MineOne acquired the Real Estate in June 2022
and then made improvements to allow for use of the Real
Estate for specialized cryptocurrency mining operations
in close proximity to Warren AFB, a strategic missile
base and home to Minuteman III intercontinental
ballistic missiles;
(c) The Transaction was not filed with the
Committee on Foreign Investment in the United States
(CFIUS) until after CFIUS's non-notified transaction
team investigated the Transaction as a result of a
public tip;
(d) CFIUS identified national security risks
arising from the Transaction relating to the proximity
of the Real Estate to Warren AFB, as well as related
risk associated with the presence of specialized
equipment on the Real Estate used to conduct
cryptocurrency mining operations, some of which is
foreign-sourced and presents national security
concerns;
(e) The proximity of the foreign-owned Real Estate
to a strategic missile base and key element of
America's nuclear triad, and the presence of
specialized and foreign-sourced equipment potentially
capable of facilitating surveillance and espionage
activities, presents a national security risk to the
United States;
(f) Section 721 authorizes CFIUS to negotiate and
enter into an agreement or take certain other actions
to mitigate the national security risk arising from a
covered transaction. Section 721 also requires that
such an agreement be effective and verifiable and
enable effective monitoring and enforcement to resolve
the national security concerns posed by a transaction.
After consideration, CFIUS determined it would not be
possible to enter into a negotiated agreement that
would satisfy those requirements; and
(g) Provisions of law, other than section 721 and
the International Emergency Economic Powers Act (50
U.S.C. 1701 et seq.), do not, in my judgment, provide
adequate and appropriate authority for me to protect
the national security in this matter.
[[Page 43302]]
Sec. 2. Actions Ordered and Authorized. On the basis of
the findings set forth in section 1 of this order,
considering the factors described in subsection (f) of
section 721, as appropriate, and pursuant to my
authority under applicable law, including section 721,
I hereby order that:
(a) The Transaction is hereby prohibited, and
ownership by the Purchasers of any interest in or part
of the Real Estate, or maintenance of any property
rights in the Real Estate (including but not limited to
the rights referred to in 31 CFR 802.233), whether
effected directly or indirectly through the Purchasers,
through the Purchasers' foreign person shareholders,
partners, or beneficial owners, or through the
Purchasers' subsidiaries or affiliates, including but
not limited to Terra Crypto, Inc., a Wyoming
corporation; Terra Global Asset Management Holdings,
Inc., a Delaware corporation; Terra Global Capital,
LLC, a Delaware limited liability company; Global
Network of Business Consultants, Inc., a New York
corporation; and International Intellectual Capital,
LLC, a Delaware limited liability company (such
subsidiaries and affiliates collectively
``Affiliates''), are also prohibited.
(b) To effectuate this order, not later than 120
calendar days after the date of this order, unless such
date is extended by CFIUS, subject to such conditions
on an extension as CFIUS determines are necessary and
appropriate to protect the national security of the
United States, the Purchasers and their Affiliates
shall sell or transfer all direct and indirect legal
and beneficial ownership interests or other rights in
the Real Estate, and certify in writing that such
Divestment has been completed (the ``Divestment'').
(c) Not later than 90 calendar days after the date
of this order, unless such date is extended by CFIUS,
subject to such conditions on an extension as CFIUS
determines are necessary and appropriate to protect the
national security of the United States, the Purchasers,
whether directly or indirectly, shall:
(i) remove from the Real Estate all items, structures,
or other physical objects or installations of any kind
(the ``Equipment'') that the Purchasers, their
Affiliates, or persons acting on their behalf, have
stockpiled, stored, deposited, installed, or affixed
(the ``Equipment Removal''), and certify in writing
that such Equipment Removal has been completed; and
(ii) remove from the Real Estate all (A) utility and
other improvements on or adjacent and connected to the
Real Estate; (B) excavation, repair, or new
construction on the Real Estate underground; and (C)
repair, improvement, or new construction on the Real
Estate above ground (collectively, (A) through (C), the
``Improvements'') commenced, continued, or completed by
the Purchasers or their Affiliates after the closing of
the Transaction (the ``Improvements Removal''), and
certify in writing that such Improvements Removal has
been completed.
CFIUS is authorized to require inspection of the Real
Estate, at no expense to CFIUS, on terms it deems
appropriate to ensure that each of the Equipment
Removal and Improvements Removal is complete and
verified.
(d) Immediately from the date of this order until
such time as the Divestment, Equipment Removal, and
Improvements Removal have been completed and verified
to the satisfaction of CFIUS, the Purchasers shall, and
shall ensure that all of their Affiliates, refrain from
physical or logical access to the Real Estate,
Equipment, or Improvements, unless such access is
necessary to effectuate the requirements of subsections
(a) through (c) of this section as determined by CFIUS.
Not later than 7 calendar days after the date of this
order and until such time as the Divestment, Equipment
Removal, and Improvements Removal have been completed
and verified to the satisfaction of CFIUS, the
Purchasers shall, and shall ensure that their
Affiliates, put in place and maintain any measures or
controls necessary to ensure that the access prohibited
under this subsection does not occur.
(e) Until the Divestment, Equipment Removal, and
Improvements Removal have been completed and verified
to the satisfaction of CFIUS, the Purchasers shall not,
and shall ensure that their Affiliates do not,
dissolve, reorganize, or transfer their ownership of or
any other property rights in the Real
[[Page 43303]]
Estate, or otherwise change their legal structure or
relocate or sell any physical, intangible, or financial
assets in a manner that would materially impede or
prevent the Purchasers or their Affiliates from
complying with this order. The Purchasers shall, and
shall ensure that their Affiliates, notify CFIUS in
writing within 24 hours of becoming aware of any actual
or potential event of default or other similar
occurrence affecting any party's rights or obligations
under outstanding loans related to the Real Estate,
Equipment, or Improvements that could materially impede
or prevent the Purchasers or their Affiliates from
complying with this order.
(f) Immediately upon completion of the Divestment,
Equipment Removal, and Improvements Removal, the
Purchasers shall certify in writing to CFIUS that all
steps necessary to fully and permanently effectuate the
requirements of subsections (a) through (d) of this
section, including any related conditions CFIUS imposes
pursuant to this order, have been completed in
accordance with this order.
(g) The Purchasers shall not, and shall ensure that
their Affiliates do not, complete a sale or transfer of
the Real Estate to any third party:
(i) until the Purchasers notify CFIUS in writing of the
intended buyer or transferee; and
(ii) unless 10 business days have passed from the
notification in subsection (g)(i) of this section and
CFIUS has not issued to the Purchasers an objection to
the intended buyer or transferee. Among the factors
CFIUS may consider in reviewing the proposed sale or
transfer are whether the buyer or transferee is a
United States citizen or is owned by United States
citizens and has or has had a direct or indirect
contractual, financial, familial, employment, or other
close and continuous relationship with the Purchasers
or their Affiliates, or officers or employees of the
Purchasers or their Affiliates. In addition, CFIUS may
consider whether the proposed sale or transfer would
threaten to impair the national security of the United
States or undermine the purpose of this order, and
whether the sale effectuates, to CFIUS's satisfaction
and in its discretion, a Divestment consistent with
subsection (b) of this section.
(h) From the date of this order until the
Purchasers provide a certification of the Divestment to
CFIUS pursuant to subsection (f) of this section, each
Purchaser shall certify to CFIUS on a weekly basis that
it is in compliance with this order and shall include a
description of efforts to effectuate the Divestment,
Equipment Removal, and Improvements Removal along with
a timeline for projected completion of remaining
actions.
(i) Any transaction or other instrument entered
into or method employed for the purpose of, or with the
effect of, evading or circumventing this order is
prohibited.
(j) Without limitation on the exercise of authority
by any agency under other provisions of law, and until
such time each of the Divestment, Equipment Removal,
and Improvements Removal are completed and verified to
the satisfaction of CFIUS, CFIUS is authorized to
implement measures it deems necessary and appropriate
to verify and enforce compliance with this order. For
purposes of verifying and enforcing compliance with
this order, employees of the United States Government
as designated by CFIUS shall be permitted access, on
reasonable notice to the Purchasers or their
Affiliates, as applicable, to all premises and
facilities of the Purchasers or their Affiliates,
including the Real Estate, located in the United
States:
(i) to inspect and copy any books, ledgers, accounts,
correspondence, memoranda, and other records and
documents in the possession or under the control of the
Purchasers that concern any matter relating to this
order;
(ii) to inspect or audit any information systems,
networks, hardware, software, data, communications, or
property in the possession or under the control of the
Purchasers;
[[Page 43304]]
(iii) to interview officers, employees, or agents of
the Purchasers, or any of their respective Affiliates,
concerning any matter relating to this order; and
(iv) to inspect and verify progress or completion of
the requirements of subsection (c)(i) and subsection
(c)(ii) of this section regarding the Equipment Removal
and Improvements Removal.
CFIUS shall conclude its verification procedures within
90 calendar days after the certification of the
Divestment is provided to CFIUS pursuant to subsection
(e) of this section.
(k) Without limitation on the exercise of authority
by any agency under other provisions of law, and until
such time as the Divestment, Equipment Removal, and
Improvements Removal are completed and verified to the
satisfaction of CFIUS, CFIUS is further authorized to
implement measures it deems necessary and appropriate
to mitigate risk to the national security of the United
States arising from the Transaction, including measures
available to it under section 721 and its implementing
regulations, which include the remedies available for
violations of any agreement or condition entered into
or imposed under subsection (l) of section 721.
(l) If any provision of this order, or the
application of any provision to any person or
circumstances, is held by a court of competent
jurisdiction to be invalid, the remainder of this order
and the application of its other provisions to any
other persons or circumstances shall not be affected
thereby. If any provision of this order, or the
application of any provision to any person or
circumstances, is held by a court of competent
jurisdiction to be invalid because of the lack of
certain procedural requirements, the relevant executive
branch officials shall implement those procedural
requirements.
(m) The Attorney General is authorized to take any
steps necessary to enforce this order.
Sec. 3. Reservation. I hereby reserve my authority to
issue further orders with respect to the Transaction or
Purchasers as shall in my judgment be necessary to
protect the national security of the United States.
Sec. 4. Publication and Transmittal. (a) This order
shall be published in the Federal Register.
(b) I hereby direct the Secretary of the Treasury
to transmit a copy of this order to the appropriate
parties named in section 1 of this order.
<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>
(Presidential Sig.)
THE WHITE HOUSE,
May 13, 2024.
[FR Doc. 2024-10966
Filed 5-15-24; 11:15 am]
Billing code 3395-F4-P
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</html>Indexed from Federal Register on May 16, 2024.
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