Big Bitcoin Step from the German Giant: Moving into Mining!

Germany-based telecommunications giant Deutsche Telekom has taken an important step into the world of crypto money. The company announced that it will start Bitcoin (BTC) mining. This breakthrough is an extension of Deutsche Telekom’s ongoing Web3 initiatives.

Deutsche Telekom will mine Bitcoin

Deutsche Telekom has been continuing its Bitcoin-related activities since 2023. The company has operated both Bitcoin and Bitcoin Lightning Network nodes since then. Speaking at the BTC Prague conference, Dirk Röder, Deutsche Telekom’s head of Web3 infrastructure and solutions, made important statements about the company’s work in the field of digital currencies:

We have been running a Bitcoin node and Bitcoin Lightning Network nodes since 2023. Let me tell you a little secret: We will soon delve into cryptocurrency photosynthesis.

The phrase “digital money photosynthesis” used by Röder in his speech attracted attention. Röder was asked to explain what this phrase meant, but Röder only replied, “We will do it.” Although Deutsche Telekom is stepping into the cryptocurrency world with Bitcoin mining, the company has previously played an active role in the Web3 field. Deutsche Telekom, which has been a Polygon validator since June 2023, has taken a determined stance on using its extensive infrastructure to create new revenue streams.

The company is one of 100 validators on Polygon

As one of the 100 validators, Deutsche Telekom has been providing staking and verification services on Polygon for more than a year, supporting the platform’s proof-of-stake consensus system. At the same time, Deutsche Telekom, which established a partnership with the decentralized artificial intelligence (AI) platform Fetch.ai in February, serves as a validator in the Fetch.ai blockchain. In this way, it contributes to Fetch.ai’s artificial intelligence-based autonomous spies providing services in the fields of health, automotive, supply chain management and digital identity. With this autonomy, it operates in these areas by managing resources, executing processes and analyzing traffic flows. It is also worth noting that the company also runs nodes on Celo.

Other subsidiaries between Deutsche Telekom and blockchain companies include running a verification node for Polygon and supporting the Q and Chainlink blockchain networks. Deutsche Telekom’s step into Bitcoin mining can be considered as an indication that classical telecommunication companies’ interest in the cryptocurrency market is increasing. The company’s use of the phrase “cryptocurrency photosynthesis” suggests that it plans to adopt a unique approach to cryptocurrency mining. It is now unclear exactly how Röder meant this statement. It is expected that more information will emerge about Deutsche Telekom’s Bitcoin mining activities and its “crypto (digital) money photosynthesis” approach in the coming period.