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Deutsche Telekom plans Bitcoin mining pilot in collaboration with MinerValley

Key Takeaways
  • Deutsche Telekom plans to run a pilot to explore how to reduce Bitcoin mining’s energy impact on the environment
  • Deutsche Telekom is set to procure equipment from a major supplier MinerValley
  • Bitcoin miners adapt to electricity demand
18-Jun-2024 By: Sakshi Jain
Ethiopia’s Strategic

Deutsche Telekom plans Bitcoin mining in collaboration with MinerValley

We’ve previously reported on Deutsche Telekom‘s operating nodes and staking services for multiple blockchains – 14 and counting. From a strategic perspective, it views this as a modern version of traditional telecom infrastructure services. Deutsche Telekom’s Dirk Röder revealed that the telecoms company already operates Bitcoin and Lightning network nodes and plans to mine Bitcoin. He was talking at the BTC Prague event on Friday.

Deutsche Telekom partners with MinerValley.com

Deutsche Telekom is set to procure equipment from a major supplier with a good reputation and reviews. Hong Kong company MinerValley chosen as supplier of all mining equipment. This company has established itself as a leading partner of all major miner manufacturers, including AntMiner, WhatsMiner, IceRiver, JasMiner, and iPollo. Their track record demonstrates reliability in providing high-quality products and a wide range to meet the needs of Deutsche Telekom. This strategic partnership with MinerValley will allow both companies to strengthen their positions in the market and efficiently pursue their business interests in the crypto mining sector.

However, a Deutsche Telekom spokesperson emphasized that the nature of the work is about infrastructure rather than investment. With most blockchains switching to proof of stake, Bitcoin’s proof of work is far more energy hungry with the ongoing debate about the sheer quantity of energy it uses.

Deutsche Telekom plans to run a pilot to explore how to reduce Bitcoin mining’s energy impact on the environment. It involves adapting the Bitcoin mining rigs to the available energy supply in seconds. In other words, if there’s a general energy shortage, then bitcoin rigs would presumably power down. If there’s excess energy, it will use it for mining. This was compared the Texas energy stabilization models.

Bitcoin miners adapt to electricity demand There are in fact two Texas-related stories. One involves some Texan Bitcoin miners using surplus gas from oil and gas extraction sites, which supposedly would otherwise have been flared.

The other more likely comparison involves mining companies committing to buying large amounts of electricity but getting compensated for adjusting their usage during peak demand. Bitcoin miner Riot Platforms reportedly made $32 million using this methodology last summer. With rising consumer energy bills, this is proving somewhat controversial.

Meanwhile, Deutsch Telekom’s most recent blockchain addition was Fetch.ai, the network looking to deploy the economy of things – IoT devices powered by smart contracts. Bosch is a big Fetch.ai supporter.

Also Read: Explore New Horizons With Coinbase Pre-Launch Crypto Futures

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