Crypto Community Outraged By NYT’s Unfair Coverage of BTC Mining Operation By CoinEdition


  • Famous figures in the crypto space voiced their disapproval of an NYT article, labeling it as biased.
  • The report focused on 34 large-scale BTC mines consuming trillions of calculations per second with electricity.
  • The story suggested Bitcoin mining activities put a strain on the US grid.

Famous members of the crypto community have expressed their dissatisfaction with a New York Times (NYT) piece regarding the excessive energy usage of Bitcoin mining operations in the United States.

Dennis Porter, CEO of Satoshi Action Fund, stated that it is unfortunate to see the NYT attack Bitcoin mining operations without giving the crypto community a chance to share the other side of the story. “Sometimes the clicks are more important than the truth,” Porter said.

John E Deaton, a blockchain lawyer, commented that the NYT once published a story lauding the fraud perpetrated by the ex-FTX CEO. He added, “There are good solid reporters who work for the Times, yet it still pushes propaganda.”

The report on Sunday suggested that Bitcoin mining activities put immense pressure on the US power grid, resulting in higher electricity bills and carbon pollution for those living near them.

The article revealed that there were 34 massive Bitcoin mines in the US, all utilizing a great amount of electricity to carry out the trillions of calculations per second required to earn Bitcoin (BTC). The NYT estimated that the operations could demand as much electricity as a small city, with some using enough energy to power more than 100,000 households.

As per the NYT’s findings, the Riot Platforms’ BTC mine in Rockdale, Texas, uses roughly the same amount of electricity as the closest 300,000 homes, making it the most power-hungry Bitcoin mining operation in America.

The report also focused on the environmental impact of mining, gauging that it produces millions of metric tons of carbon dioxide yearly in the US.

The post Crypto Community Outraged By NYT’s Unfair Coverage of BTC Mining Operation appeared first on Coin Edition.

See original on CoinEdition

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