Since the emergence of the crypto economy across the globe one of the biggest concerns is its impact on energy consumption and the recent controversy sparked in the United States with the statement of Senator Elizabeth Warren points the same.
Senator Warren accused the Bitcoin mining industry of raising energy prices in American households, however, the statement made by her was based on unverified mainstream reporting.
She Stated “I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate. The U.S. Environmental Protection Agency and Department of Energy should use their authority to require crypto miners to disclose their energy use and emissions.”
While the Senator prominently attacked the industry, the crypto ecosystem especially Bitcoin is indubitably criticized by established newspapers such as New York Times and Washington Post this can be seen in the series of articles published by the organizations. The latest censure on the industry could be seen in an article published by New York Times, accusing Bitcoin miners of cashing in on electricity and indirectly forcing the public to pay the price.
After the senator’s statement, numerous entrepreneurs contradicted the statement given by her. Bitcoin podcaster Stephan Livera dismissed the NYT report calling it “disinformation”. MicroStrategy founder and chairman Michael Saylor explained how Bitcoin mining helps in reducing electricity bills.
He stated in a tweet “Bitcoin miners decrease the energy bill for millions of American families and do not create pollution. They are data centres running on excess electricity that would otherwise be wasted, and perform the vital role of powering the most secure computer network in the world.”
New York Times is a New York City-based Daily Newspaper that is under the eye of the Crypto ecosystem for its continuous attack on Cryptocurrency, NYT accuses crypto of its endless impact on the environment. It was one of the first victims of Elon Musk’s attack on disinformation and propaganda. Elon Musk post buying of Twitter got actively involved in eliminating disinformation and propaganda, he is also the CEO of Dogecoin.