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Deutsche Telekom, Europe’s largest telecommunications provider, has announced a pioneering pilot project to operate Bitcoin mining infrastructure using surplus renewable energy. The initiative is a collaboration between Deutsche Telekom subsidiary MMS and Bankhaus Metzler, aiming to utilize excess electricity that would otherwise remain unused due to grid limitations or lack of storage solutions. Deutsche Telekom Starts Bitcoin Mining With the increasing integration of renewable energy sources like wind and solar into the power grid, energy production has become more irregular, leading to challenges in grid stabilization. The pilot project seeks to address this by converting surplus energy into digital assets through Bitcoin mining, a process known for its high energy consumption. “This regulating power through Bitcoin mining is already successfully practiced in other countries (including the USA and Finland). The pilot project aims to validate the process for Germany,” the official announcement states. “Due to the flexible load, Bitcoin miners could play an important role in balancing supply and demand in the energy grid in the future,” the companies added in their joint announcement. “Surplus energy is converted into digital values through the miners. We call this digital monetary photosynthesis,” said Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS. The hosting of the Bitcoin miners is managed by Metis Solutions GmbH from Dresden. The mining containers are situated on the premises of Riva GmbH Engineering in Backnang, a manufacturer of metal and glass facades that operates its own photovoltaic system. This setup allows the project to leverage on-site renewable energy for mining operations. Deutsche Telekom MMS, leveraging years of experience with Web3 infrastructure, oversees the operation of the mining devices. Bankhaus Metzler contributes by defining test runs and analyzing data evaluations, exploring further possibilities of financial services with Bitcoin through the pilot. Bankhaus Metzler, a…

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Filed under: News - @ November 5, 2024 12:24 am