Deutsche Telekom’s subsidiary, MMS, and Bankhaus Metzler are launching a pilot project to establish a Bitcoin (BTC) mining operation utilizing surplus energy.
According to a new announcement from Deutsche Telekom – parent company of mobile giant T-Mobile – the intent of the operation is to power BTC mining with electricity from renewable energy sources.
According to the announcement, regulating power through BTC mining has already been successfully done in the US and Finland. The pilot project being announced today concerns validating the process in Germany.
Says Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS,
“With the growing number of renewable energy sources and the resulting fluctuations in available energy, the need for quickly available regulating power increases. For this, we need mechanisms that can respond quickly to changes and absorb fluctuations. Together with Bankhaus Metzler and RIVA Engineering GmbH, we are taking a step in this direction to test the regulatory effect of Bitcoin miners in the energy grid. Surplus energy is converted into digital values through the miners. We call this digital monetary photosynthesis.”
Hendrik König, Head of Digital Assets Office at Bankhaus Metzler said that blockchain was increasing in importance in operational business outside the financial industry, and that the firm’s goal was to advance the technology in Germany.
Deutsche Telekom announced last year that it was launching an operation to be a validator on the Polygon (POL) network.
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