Deutsche Telekom to Use Excess Energy for Bitcoin Mining
German telecommunications company Deutsche Telekom is testing Bitcoin mining infrastructure using surplus energy.
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German telecommunications company Deutsche Telekom is testing Bitcoin mining infrastructure using surplus energy.
The company announced that its subsidiary Telecom MMS collaborates with Bankhaus Metzler to launch the pilot project called “Digital Monetary Photosynthesis.”
In a November 4 press release, Deutsche Telekom states:
The mining is intended to be powered by electricity from renewable energy sources, which would otherwise remain unused due to insufficient grid input possibilities and/or lack of storage options.
German telecommunications company Deutsche Telekom. Source: telecom.com
Deutsche Telekom mentioned the need to stabilize the energy grid (regulating power) as renewable energy resources have been growing and there are fluctuations in available energy. According to the company, mechanisms will help respond to changes and absorb fluctuations.
The long-term goal of the project is to contribute to the stabilization of the energy grid during energy fluctuations. Due to flexible load, Bitcoin miners can help balance supply and demand in the energy grid.
The German telecommunications firm noted that using Bitcoin mining for surplus energy has already been practiced successfully in other countries, including Finland and the USA.
Deutsche Telekom, which is the largest telecommunications provider in Europe by revenue, said the initiative aims to validate the process for Germany, too. Dresden-based IT infrastructure provider Metis Solutions GmbH will host Bitcoin miners while mining containers are located on the premises of Riva GmbH Engineering.
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