NYT claims Riot Bitcoin miner uses 95% fossil fuels: Report

Bitcoin mining firm Riot slammed NYT over false reporting about its crypto mining business.

Riot Platforms is a Bitcoin mining firm that supports the Bitcoin blockchain through large-scale mining operations in the United States.

On 9 April 2023, the New York Times published a report against the crypto mining activities in the US and dragged out the names of multiple Bitcoin mining companies.

NYT alleged that all Bitcoin mining companies use 96% of energy from fossil fuels. The report also dragged Riot Platforms under its report and claimed that Riot produces 1.9 million tons of CO2 emissions per year.

Riot responded openly against such misleading reporting and stated that Riot uses electricity from Texas and that electricity relies on 24% wind energy, 10% nuclear energy, and 4% solar energy.

Further Bitcoin mining firm also stated that the company operates in rural regions where wind and solar are “abundant and otherwise wasted”.

According to Riot, the NYT report is trying to hit the Bitcoin network politically with the help of biased Data.

Furthermore, the Riot team also noted that the NYT report failed to use the data provided by Riot Platforms but they used those data which are available against the crypto sector. 

Crypto NFTs 

In 2021, the popularity of crypto NFTs was at a peak level. At that time many crypto proponents promoted NFTs as a new way to utilize blockchain technology in the real world but many crypto critics jumped against the NFTs concept and claimed that NFTs will be another big load on the crypto networks and these will further cause more CO2 emissions in the environment.

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