CASTLE ROCK, CO, April 10, 2023 (GLOBE NEWSWIRE) — Riot Platforms, Inc. REVOLT (“Riot” or the “Company”)an industry leader in Bitcoin (“BTC”) mining and data center hosting, makes a statement in response to the April 9, 2023 New York Times (“NYT”) article “The Real-World Cost of the Digital Race for Bitcoin.” from ” (the article”).

In the midst of yet another banking crisis, Bitcoin offers consumers and businesses a much-needed store of value option and the ability to custodian their own assets. Bitcoin mining operations also provide jobs, tax revenue, and many other benefits to rural communities, including grid stability and incentives for alternative energy generation.

Because of this, we were particularly disappointed to read an incorrect and distorted picture of our company and our industry in the article published by The NYT. Worse, the NYT chose to publish the article with information their authors knew to be false and misleading and ignored the factual information we provided them.

To be clear, our bitcoin mining operations do not generate greenhouse gas emissions much like any other data center for Facebook, Amazon or Google – yet we were singled out. Our data center uses electricity from the Texas power grid, the cleanest and most renewable power grid in the United States.

We also proudly participate in various programs that help stabilize the power grid and actually lower electricity prices, despite the misconceptions of critics. Unlike other industries, we can shut down at any time, making power available to other users and critical infrastructure during extreme weather events, while recovering losses by curtailing our operations.

We take special pride in being the largest employer in Milam County, Texas, and in the fact that our vibrant and talented workforce drives economic activities that strengthen the local economy.

This reporting seems to be driven by political fringe interests, but we won’t let that stop us…