Preheat the oven to 400°F.
Wash the crimini mushrooms, then arrange on a baking sheet. Lightly drizzle to coat with olive oil, then roast until soft, about 15 minutes.
In a food processor, blend the mushrooms until finely ground.
In a large pot, melt the butter with 1 tablespoon olive oil over medium heat. Add the garlic and onion and saute until just starting to caramelize, about 4 minutes.
Warm the chicken broth in a separate pot on the stove until just steaming.
Stir the rice, thyme sprigs, and 1 tsp. salt into the garlic and onion. Increase the heat to medium-high and toast the rice, stirring, about 4 minutes, until the rice is just barely browning.
Pour in the wine. Stir until the wine is absorbed into the rice.
Decrease the heat back to medium and stir in a few ladles of the hot chicken broth. Cook, stirring often, until the broth is absorbed, keeping a gentle simmer going.
Continue this process, adding the chicken broth a ladle at a time and stirring until it is absorbed, until all the broth is gone.
Taste a small spoon of rice to check for doneness, it should be soft with just a slight chew to it.
When the rice is cooked, stir in the ground mushrooms, pecorino romano cheese, and freshly cracked black pepper and salt, to taste.
If the risotto is too thick, it can be thinned with a little more broth. If it is too thin, it can be simmered a bit longer to thicken.
Remove the woody thyme sprigs. Allow the risotto to cool.If you are making the arancini the same day, spread the risotto out onto a baking sheet and place in the refrigerator for quicker cooling.