The post Deutsche Telekom Will Soon Mine Bitcoin appeared on BitcoinEthereumNews.com.

Deutsche Telekom, T-Mobile’s parent company, will jump into the Bitcoin mining space shortly to expand its revenue generation avenues. The telecommunications company has been active in the Web3 space for a while, already running a Bitcoin node, multiple nodes on the Lightning Network, a Bitcoin scalability solution, and validating on other networks. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, said at BTC Prague, “Since 2023, we are running a Bitcoin node, and we are running Bitcoin Lightning nodes as well.” When asked if Deutsche Telekom would mine Bitcoin next, he said, “We will.” Most recently, in February, Deutsche Telekom partnered with Fetch.ai, a decentralized AI platform that offers AI agents to bring efficiency to industries like automotive, healthcare, and supply chain management. These agents ensure easy management of various business processes while unlocking blockchain-based economies. Deutsche Telekom operates a validator node on the network, securing Fetch.ai and pushing its use cases toward adoption. Deutsche Telekom also set up a validator node on Polygon in June 2023, capitalizing on Polygon’s robust usage to earn block rewards from the network and increase revenues. The Polygon sidechain operates on Proof-of-Stake consensus, and Deutsche Telekom’s validator node provides pooled staking services for delegators and even secures the network effectively. It is one of 100 validators on the network. Deutsche Telekom’s decision to mine bitcoin comes when significant amounts of miners may drop out from the network due to reduced block rewards after the recent halving. Nevertheless, other mining firms operating massive mining facilities are finding ways to derive maximum profitability from their operations. Market leaders like Marathon Digital and CleanSpark are striking deals with foreign countries and instituting energy-based projects to operate mining facilities overseas and expand beyond their bases in the US. Deutsche Telekom can take advantage of its…

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Filed under: News - @ June 18, 2024 10:20 pm