US Senator Elizabeth Warren recently accused the Bitcoin mining industry of driving up energy prices in American households, based on a New York Times article. Crypto Twitter was quick to push back against this misinformation, seeking to set the record straight.
While Senator Warren has previously spoken out against the crypto industry, this latest attack on Bitcoin mining follows a narrative presented in the NYT report, which claims that Bitcoin miners are taking advantage of cheap electricity and passing the cost onto the public.
In response, Warren called on government agencies to regulate cryptominers and require them to disclose their energy use and emissions.
However, members of the Crypto Twitter community were quick to challenge these claims, with some dismissing the NYT report as disinformation. Others pointed out that Bitcoin mining can actually help reduce energy bills, contrary to Warren’s allegations.
Some members of the community even tagged Tesla CEO Elon Musk, a prominent figure in the crypto space who has been actively fighting against disinformation campaigns on social media. Musk recently revealed his plans to create a new large language model, called TruthGPT, that will seek to explore the mysteries of the universe.