In its bid to drive sustainable energy growth, Deutsche Telekom has inked new partnerships to boost the use of renewable energy
MMS, a German telecom giant Deutsche Telekom subsidiary, has decided to launch a trial Bitcoin mining venture. The project, which partners with Bankhaus Metzler, will utilize surplus electricity from renewable sources to power Bitcoin mining equipment.
Bitcoin Mining and Energy Solution
According to the information shared, the mining equipment will use excess energy from such renewable sources as wind and solar. This aims to support the nation’s power grid by stabilizing and eliminating fluctuation witnessed on the grid.
The collaboration has been structured so that MMS supports the project with its Web3 expertise. Notably, since 2020, Telkom MMS has provided infrastructural support for decentralized protocols in the Web3 space. Some of its clients include Polygon and Chainlink. MMS will, therefore, oversee the daily running of the mining systems for smooth operations.
On the other hand, Bankhaus Metzler will search for opportunities to render financial services linked to digital assets. Metis Solutions GmbH will manage the hosting of the Bitcoin miners, while mining containers are sited at Riva GmbH Engineering, Backnang.
The partners will consider scaling the project if the trial launch is a significant success. They must also assess the likelihood of integrating blockchain in the German energy sector.
Hendrik König, Bankhaus Metzler’s Head of the Digital Assets Office, explained that the target is to gain experience in different application areas and leverage the innovative power of blockchain technology.
Germany and Blockchain-Powered Future
This model of energy utilization is not novel to Germany. The strategy has been applied in Finland and the United States of America. The pilot phase will help understand how Bitcoin mining could regulate energy fluctuations on the power grid.
Given that Germany has shifted towards more renewable energy sources, the nation’s power grid has witnessed significant challenges. These relate primarily to issues emanating from different levels of production. By adopting this model of Bitcoin mining, they hope to ensure grid stability.
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