Who Benefits From The New York Times’ Attacks On Bitcoin?

May 8, 2023

A recent editorial attack on Bitcoin mining by The New York Times raises questions about its journalistic integrity and editorial process.

This is an opinion editorial by Level39, a researcher focused on Bitcoin, technology, history, ethics and energy.

Does one of the largest individual shareholders of The New York Times benefit from the publication’s recent hit piece on Bitcoin mining?

The article, “The Real-World Costs Of The Digital Race For Bitcoin,” attacked the role of Bitcoin miners who participate in sanctioned demand-response programs within the Electricity Reliability Council Of Texas (ERCOT), the state’s energy grid. These programs provide ancillary and demand-response services that enable variable renewable power to be profitable and readily available when consumer demand rises. They also allow for grids to remain reliable during extreme weather events, such as Winter Storm Uri in February 2021.

In its haste to attack Bitcoin mining, The New York Times appears to have reversed more than a decade of support for pro-renewable, demand-response programs and has potentially handed the Texas legislature fodder to limit competition on the Texas grid, in favor of policies that promote natural gas peaker plants and pipelines.

https://bitcoinmagazine.com/culture/why-the-new-york-times-attacks-bitcoin

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