In what is certainly a sign of the growing reach of the digital asset sector, Deutsche Telekom, the largest telecom provider in all of Europe, has begun testing Bitcoin mining. Specifically, the T-Mobile parent company is testing the process for surplus energy, according to a press release issued Monday.
The firm announced the pilot project that would be taking place in collaboration with Bankhaus Metzler, one of Germany’s oldest banks. The project will seek to create a BTC mining infrastructure that is powered by renewable energy, the company notes.
Source: Watcher.Guru
Also Read: T-Mobile Parent Company Deutsche Telekom to Mine Bitcoin
Deutsche Telekom Announces Bitcoin Mining Pilot Project
There is no denying the vast growth that the cryptocurrency sector has enjoyed throughout 2024. The launch of crypto-based ETFs in the United States has opened the door to a wealth of new investors. Specifically, institutions like BlackRock and Fidelity have integrated massively with the asset class.
That has now extended to an international reach where crypto is continuing to take off. Indeed, Deutsche Telekom, the largest telecom provider in all of Europe, has announced a new pilot project to begin testing Bitcoin mining. Specifically, the BTC would be mine surplus energy.
Source: WazirX
Also Read: Deutsche Telekom, T-Mobile Parent, Launches Ethereum Validator
The official project came after the company hinted at a venture into Bitcoin in June of this year. At a BTC conference in Prague, the company’s head of Web3 Infrastructure and Solutions said that the firm would “engage in digital monetary photosynthesis soon.”
In the announcement, the company discussed Bitcoin’s potential as a regulator, with there being a “need to stabilize the energy grid” during irregularity spells. “This regulating power through Bitcoin mining is already successfully practiced in other countries,” they added. “The pilot project aims to validate the process for Germany.
