Pushing bitcoin mining is against free society, says the Nasdaq-listed company

Riot Platforms (NASDAQ: RIOT), a bitcoin mining company listed on Nasdaq, said pushing the activity because of electricity consumption is an attitude against a society that claims to be free.

The outburst came after a publication by The New York Times last Sunday (9) warning that bitcoin mining has caused problems in Texas. The publication of an article showing “the true cost of bitcoin mining” could cause a power outage in the US state.

In fact, the article says that in Texas in 2021, 40 people died from the cold because they had no electricity to warm up, while bitcoin facilities continued to operate. One of the companies accused in the report of having the highest electricity consumption is Riot Platforms.

The New York Times even says that mining has increased pollution in the US and is raising the price of energy in homes. The text certainly puts pressure on the institutional bitcoin industry in Texas, which is simultaneously eyeing a bill that could remove market incentives.

What did bitcoin mining company say?

Indeed, the New York Times study, a production worthy of Hollywood, presents no new critique of bitcoin mining. This is because in recent years the sector has been subject to criticism related to pollution and high electricity consumption.

In response to the publication, Riot stressed that bitcoin has proved important, especially in the midst of yet another banking crisis. In addition, mining companies also pay taxes, generate revenue and meet their tax obligations.

Riot has stated that, like large servers for large companies, it uses Texas’ power grid, one of the most renewable in the US.

“To be clear, our Bitcoin mining operations do not generate greenhouse gas emissions, similar to any other Facebook, Amazon or Google data center, but we were chosen. Our data center uses electricity from the Texas power grid, the cleanest, most renewable power grid in the United States.”

For Riot, the published text against the institutional mining market falls short on several points. One of them is “choosing who can and cannot use energy based on political considerations is a dangerous path and contrary to the values ​​of a free society“.

It is worth remembering that bitcoin mining gained momentum in the US after China banned the activity. With that, any tension in the North American market draws the attention of the community as it is the largest in the world today.

Source: Live Coins

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