Deutsche Telekom, Europe's largest telecommunications provider, has announced that it will test Bitcoin (BTC) mining for excess energy.
According to an official statement, Deutsche Telekom subsidiary T-Systems Multimedia Solutions (MMS) is preparing to use Bitcoin mining to utilize excess energy.
Deutsche Telekom subsidiary MMS has announced that it has partnered with Bankhaus Metzler to launch a pilot project to mine Bitcoin using excess renewable energy.
The project aims to use electricity from renewable sources that would otherwise go unused due to grid constraints or insufficient storage.
MMS explained that Bitcoin miners could play a key role in regulating the balance between supply and demand in the energy grid in the future.
“Deutsche Telekom subsidiary MMS, in collaboration with Bankhaus Metzler, is launching a pilot project to operate a Bitcoin mining infrastructure using surplus energy.
The mining is intended to be powered by electricity from renewable energy sources, which would otherwise be unused due to insufficient grid input capabilities and lack of storage options.”
Experts assessed that this Bitcoin move is a very important development for countries and energy producers around the world and stated that converting excess energy into money through BTC mining could also encourage future investments in artificial intelligence.
*This is not investment advice.