- The report identified 34 large-scale mines performing trillions of calculations per second with electricity.
- The article claims Bitcoin mining operation puts immense pressure on the US grid.
Famous figures in the crypto community have condemned an article by the New York Times (NYT) highlighting the massive energy consumption of Bitcoin mining operations in the United States.
Dennis Porter, CEO of Satoshi Action Fund, said it is unfortunate to see the NYT attack Bitcoin mining despite the incredible outreach by the crypto community to engage and share the other side of the story. “Sometimes the clicks are more important than the truth,” Porter concluded.
On the other hand, blockchain lawyer John E Deaton remarked that the NYT once published a story praising the fraud perpetrated by the former FTX CEO. He added, “There are good solid reporters who work for the Times, but my God, it pushes propaganda.”
In the report on Sunday, the New York Times revealed that the Bitcoin mining operations put immense pressure on the US power grid, creating higher electricity bills and carbon pollution for those around them.
It identified 34 large-scale Bitcoin mines in the US, all using enormous amounts of electricity to perform the trillions of calculations per second needed to earn Bitcoin (BTC). The NYT estimated that the operations could require as much electricity as a small city, with some using enough energy to power over 100,000 homes.
According to NYT findings, the Riot Platforms’ BTC mine in Rockdale, Texas, uses about the same amount of electricity as the nearest 300,000 homes, making it the most power-intensive Bitcoin mining operation in America.
The report also highlighted the impact of mining on the environment, gauging that it generates millions of metric tons of carbon dioxide yearly in the US.