MineOne

About MineOne

MineOne emerged in October 2021 as a cryptocurrency mining investment fund, establishing its headquarters in New York. The company was jointly led by senior mining investor Chong. W, capital market veteran Dr. Jiaming, and blockchain and quantitative expert Dr. Erick Rengifo, who brought together their expertise in crypto mining, capital markets, and blockchain technology. The firm's business model was centered on providing investors, such as U.S. institutional investors and high-net-worth individuals, with exposure to cryptocurrency mining, aiming for stable returns while mitigating the risks of direct asset ownership.

The company's primary service was operating as a mining investment fund that utilized advanced mining machines to achieve high hash rates. By combining this hardware with digital quantitative technology, MineOne sought to offer a secure and stable investment vehicle in the cryptocurrency sector. Shortly after its launch, the company announced it had raised over $20 million in its first funding round, which closed in under 30 days. At that time, MineOne reported having over 80,000 miners and had plans to scale its operations to approximately 135,000 miners by the end of 2022.

A significant event in the company's history occurred in June 2022, when MineOne Partners Limited, a British Virgin Islands entity ultimately controlled by Chinese nationals, acquired real estate in Cheyenne, Wyoming. This property was located less than one mile from the Francis E. Warren Air Force Base, which houses Minuteman III intercontinental ballistic missiles. MineOne developed the site for a specialized cryptocurrency mining operation, installing foreign-sourced equipment. This action did not go unnoticed; the Committee on Foreign Investment in the United States (CFIUS) launched an investigation after receiving a public tip. The investigation concluded that the facility's proximity to a strategic military base and the nature of the foreign-sourced equipment presented a national security risk, potentially enabling surveillance and espionage. Consequently, in May 2024, President Joe Biden issued an executive order prohibiting the operation and mandating the divestment of the property and removal of all equipment and improvements. Just before the order was issued, MineOne had agreed to sell the site to CleanSpark, a U.S.-based company. By March 2025, the company was listed as out of business.