Deutsche Telekom, the German telecommunications giant, is taking a further step towards blockchain, an environment in which it has been present for many years. The company announced the launch of a pilot project in Bitcoin mining, all exclusively via surplus energy from green infrastructure.
Deutsche Telekom takes its first step into Bitcoin mining
Deutsche Telekom, the German telecommunications giant with 260 million customers, is officially launching Bitcoin mining.
The project was briefly mentioned by the head of the firm's Web3 division, Dirk Röder, last June. “ We will be doing “digital currency photosynthesis” soon,” he declared, alluding to green mining behind the scenes.
Deutsche Telekom has not deviated from its trajectory since this announcement: via its subsidiary MMS and in association with Metzler Bank, it plans to power its mining activity exclusively via excess energy reserves produced by green infrastructure.
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This is a pilot project, which will be hosted at the premises of Riva GmbH Engineering, manufacturer of metal and glass facades, in Backnang. Everything will be supervised by Metis Solutions GmbH, a company specializing in the design and manufacturing of tailor-made electrotechnical solutions, particularly in the field of crypto mining.
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With the increasing number of renewable energy sources and the resulting fluctuations in available energy, the need for rapidly available regulation power is increasing. […] we are taking a step in this direction to test the regulating effect of Bitcoin miners in the power grid. Excess energy is transformed into digital values by miners, what we call digital currency photosynthesis.
The Deutsche Telekom press release rightly points out that many mining companies use surplus energy produced to power their activity, as may be the case in the United States or Finland for example. Through this pilot project, the German company wishes in particular to evaluate to what extent wind energy producers could benefit from BTC mining to balance their electricity production.
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Although this is a discovery phase for Deutsche Telekom, the telecom company is far from a stranger to blockchain technology. Since 2020, it already operates nodes for Celo, Polkadot and Chainlink via its subsidiary MMS. It also launched a staking service on Ethereum in October 2022.
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Source: Press release
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