- Deutsche Telekom, Europe’s largest telecom provider and T-Mobile parent company, will begin testing Bitcoin mining with surplus energy.
- The company announced a pilot project in collaboration with Bankhaus Metzler, one of Germany’s oldest banks, to create a BTC mining infrastructure powered by renewable energy.
- The project aims to validate the process of using Bitcoin mining to stabilize the energy grid during irregularity spells, a practice already successful in other countries.
Deutsche Telekom, Europe’s largest telecom provider, has announced plans to begin testing Bitcoin mining using surplus energy. This pilot project marks a major milestone in the adoption of crypto mining across Europe.
Deutsche Telekom and Bitcoin Mining
Deutsche Telekom, the parent company of T-Mobile, revealed in a press release on Monday that it will collaborate with Bankhaus Metzler, one of Germany’s oldest banks, on a pilot project for Bitcoin mining using renewable energy sources.
This announcement comes after the company hinted at a potential mining venture during a Bitcoin conference in June. At the conference, the head of Deutsche Telekom’s Web3 department stated the firm would soon engage in “digital monetary photosynthesis.”
The Goal of the Pilot Project
According to the press release, the goal of the pilot project is to create a Bitcoin mining infrastructure in Germany that runs on renewable energy.
Deutsche Telekom stated that Bitcoin mining can help stabilize energy grids during times of irregularity. The company said this regulating power of crypto mining is already working well in other countries, and now they aim to test and validate the process in Germany.
The Growth of Crypto in Europe
Deutsche Telekom’s mining pilot project reflects the expanding reach of cryptocurrencies across Europe. With the launch of Bitcoin ETFs in the U.S. and growing institutional adoption worldwide, major European firms are beginning to integrate digital assets as well.
As one of the largest telecom providers on the continent, Deutsche Telekom’s efforts signal a noteworthy shift. If successful, the company’s Bitcoin mining pilot could prompt other European firms to follow suit and contribute to the continent’s burgeoning crypto sector.
