Official financial reports or announcements from Bankhaus Metzler

Deutsche Telekom and Germany's Oldest Bank Launch Bitcoin Mining Pilot Using Surplus Renewable Energy

Nov 4, 2024, 12:22 PM

Europe's largest telecommunications company, Deutsche Telekom, has launched a pilot project to mine Bitcoin using surplus renewable energy. The initiative, conducted through its subsidiary Telekom MMS in partnership with Bankhaus Metzler, Germany's oldest bank, aims to utilize excess energy from renewable sources, such as unused solar and wind power, to mine Bitcoin. By monetizing surplus energy, the project seeks to provide data support for grid stability and help balance Germany's energy grid by converting leftover energy into digital value. Deutsche Telekom is also running a Bitcoin node as part of this effort.