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Author: Admin | 2025-04-28
Skip to content Federal Judge Halts Arkansas’ Effort to Close Crypto Mining Operation Amid Legal DisputeA federal judge has temporarily blocked Arkansas state officials from enforcing two controversial state laws against Jones Eagle, a cryptocurrency mining company based in Arkansas. This legal victory for the company owned by Qimin “Jimmy” Chen follows a legal dispute centered on allegations of foreign ownership.On November 25, U.S. District Judge Kristine Baker issued a temporary restraining order (TRO) that prevents the state from shutting down the mining operation. This ruling comes in response to the state’s efforts to implement Act 636 of 2023 and Act 174 of 2024, which aim to restrict foreign ownership of property and digital asset mining operations in the state. The temporary hold on these laws gives Chen’s company time to challenge the regulations, which they argue are discriminatory.Dispute Over Foreign Ownership LawsThe crux of the dispute is that the state of Arkansas claims Chen, a naturalized U.S. citizen born in China, is linked to the Chinese government through his ownership of the crypto mining operation, Jones Eagle. The state has argued that this connection warrants the shutdown of his operation. However, Chen has refuted these claims, stating that the laws unfairly target him based on his national origin. In his lawsuit, Chen emphasized that he resides in New York and legally owns the business through his holding company, Eagle Asset Holding.Judge Baker’s decision halts the state’s attempts for 14 days, allowing for a complete hearing to consider whether a preliminary injunction should prolong the restraining order. This injunction may preclude further state participation while legal challenges to the legislation are being considered.Source: XChen’s attorney, Alex Jones, applauded the decision, calling it a critical step in defending his client’s rights and the integrity of his company. “This is an important win in protecting our client’s rights while we prepare to argue that these laws are unconstitutional,” Jones said.The state has continued to investigate crypto mining operations across Arkansas, with Attorney General Tim Griffin noting that some businesses, including Jones Eagle, have failed to fully cooperate. In statements, Griffin emphasized his
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