April 13 (Cointime) - Riot Platforms, the largest bitcoin miner by market cap, posted a tongue-in-cheek video in response to a New York Times article highlighting the significant carbon emissions and excessive electricity consumption associated with the mining industry.
According to a report from New York Times, it is estimated that 96% of Riot's energy consumption comes from fossil fuels. The publication found that in Texas, the heightened demand from mining led to a nearly 5% increase in electric bills, amounting to an additional $1.8 billion per year. This extra power usage results in carbon emissions equivalent to adding 3.5 million gasoline-powered cars to U.S. roads. The Times also reported that Riot's Rockdale, Texas mine "uses about the same amount of electricity as the nearest 300,000 homes, making it the most power-intensive Bitcoin mining operation in America."
However, in the tongue-in-cheek response video shared on Twitter, a Riot official clad in safety gear strolls around a semi-grassy area, taking measurements of low CO2 levels and pointing out the surrounding plants. "Rockdale has some of the freshest air I've ever breathed," says the individual, who appears to be Riot's head of research, Pierre Rochard. He then enters the mining facility and records an even lower CO2 level inside the largest Bitcoin mining facility in the U.S.
"The science is conclusive," the bearded man representing Riot states in the video. "The data shows Bitcoin mining does not emit any CO2."
Bitcoin mining has zero carbon emissions. pic.twitter.com/dOO4wZpSW6
— Riot Platforms, Inc. (@RiotPlatforms) April 10, 2023
Twitter users, naturally, piled on, roasting the bitcoin miner for its comically literal interpretation of mining and greenhouse gases.
"Is this a parody? I was waiting for punchline. Bitcoin mining release large amount of carbon emissions because it consumes a tremendous amount of electrical power and most of the power generated in the US is by burning fossil fuels." said Twitter user angelo @angelongonyama.
"Oh my god. Please, please, please tell me this is a joke. If it isn’t, I don’t know what to say. You do know that the emissions of CO2 don’t come from the computers — but from the coal and gas plants powering your facility?" another user Dr. Jonathan Foley@GlobalEcoGuy said in a reply.
Some user think its a "synical joke", they believes—the folks behind it know it's trash, but are hoping to fool people.
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