Deutsche Telekom: Giant telecommunications company Deutsche Telekom, which is also the parent company of T-Mobile, is considering venturing into Bitcoin mining.
This announcement came from Dirk Röder, the Head of Infrastructure and Web3 Solutions at Telekom MMS, during the BTC Prague conference last week.
“We will soon be engaging in digital monetary photosynthesis.”
Dirk Röder
Implications for the Bitcoin Mining Industry
Röder stated that the company will soon be engaging in “digital monetary photosynthesis.” When asked if T-Mobile would be mining Bitcoin, he responded in the affirmative. This announcement comes at a time when the mining sector has experienced significant volatility, marked by the recent halving event that halved Bitcoin rewards.
Röder did not specify where or to what capacity the company would be mining Bitcoin, but the entrance of such a large corporation has both positive and potentially negative implications for the industry. Deutsche Telekom’s involvement could bolster the security of the Bitcoin network through the participation of an entity with a market capitalization of over $200 billion, but it could also intensify competition for current miners.
Deutsche Telekom’s Past Involvement in Crypto
Deutsche Telekom has been active in the digital asset sector for years. The company has established validators on networks such as Polygon, Q, Flow, Celo, Chainlink, and Ethereum.
In 2023, Röder revealed that the company was already managing Bitcoin and Lightning nodes. Additionally, last year Deutsche Telekom launched the Energy Web Chain, described as the “world’s first public blockchain explicitly designed for the energy sector,” aiming to create a more decentralized, digitized, and decarbonized energy system.
