T-Mobile’s parent company, Deutsche Telekom, is trying out a new way to use renewable energy: Bitcoin mining.
Using Excess Energy for Bitcoin
Deutsche Telekom’s subsidiary, MMS, is partnering with Bankhaus Metzler to launch a pilot project in Germany. The goal is to use excess energy from renewable sources to power Bitcoin mining operations.
This isn’t a new idea. Similar projects have already been successful in the US and Finland. The German pilot project aims to test how Bitcoin mining can help regulate the energy grid by absorbing fluctuations in renewable energy supply.
Digital Monetary Photosynthesis
Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS, explains, “We’re converting surplus energy into digital value through Bitcoin mining. We call it ‘digital monetary photosynthesis.'”
Blockchain’s Growing Role
Hendrik König, Head of Digital Assets Office at Bankhaus Metzler, believes blockchain technology is becoming increasingly important in various industries, not just finance. He sees this project as a step towards advancing blockchain technology in Germany.
Deutsche Telekom’s Blockchain Interest
This isn’t the first time Deutsche Telekom has shown interest in blockchain technology. Last year, they announced plans to become a validator on the Polygon (POL) network.
Disclaimer:
This information is for educational purposes only and should not be considered investment advice. /p>
