3 weeks ago
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ARTICLE AD BOX
MMS, the subsidiary of the leading telecommunications firm in Europe, Deutsche Telekom, has partnered with Bankhaus Metzler to explore Bitcoin mining using surplus renewable energy. The pilot project, based in Germany, aims to use excess energy generated by renewable sources like solar and wind power. With this initiative, the firm seeks to create a sustainable solution that leverages digital technology to stabilize energy grids during peak production periods.
Deutsche Telekom Subsidiary To Start Testing Bitcoin Mining Infrastructure
In a recent press release, the subsidiary of Deutsche Telekom, MMS said that it is partnering with Bankhaus Metzler to integrate Bitcoin mining as a stabilizing mechanism for Germany’s fluctuating renewable energy output. This approach of the firm aims to address essential energy challenges like efficiently using surplus power generated by renewables.
Notably, as per the release, this energy often goes unused due to its limited grid capacity or inadequate storage solutions. Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at MMS, noted that this “digital monetary photosynthesis” offers a way to convert excess energy into digital assets. He added that it would help create a dynamic tool to manage power grid fluctuations.
Meanwhile, the mining operations will be hosted by Metis Solutions GmbH at Riva GmbH Engineering in Backnang. It is a firm with its own photovoltaic (solar) setup. MMS, leveraging the firm’s expertise in web3 infrastructure, will monitor the mining equipment, while Metis will manage the facility.
This collaboration with Bankhaus Metzler aims to access Bitcoin mining’s ability to balance energy demand and supply. In turn, it is expected to benefit the solar and wind energy producers who encounter unpredictable power output.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
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