Deutsche Telekom Expands Into Bitcoin Mining, Aims to Incorporate Blockchain Tech Into Future Business Operations

Deutsche Telekom, the parent company of T-Mobile,  has revealed that it aims to begin Bitcoin mining, expanding on its current crypto-related activities.

Deutsche Telekom, the parent company of T-Mobile, has announced plans to begin Bitcoin mining as part of an expansion of its cryptocurrency-related activities.

Dirk Röder, Deutsche Telekom’s head of Web3 infrastructure, revealed the Bitcoin mining initiative during an appearance at the BTC Prague conference on March 23.

The move builds on Deutsche Telekom’s existing crypto endeavors, which include running Bitcoin nodes since early 2023 and maintaining Bitcoin Lightning Network nodes.

During his conference talk, Röder likened Bitcoin mining to a form of “digital monetary photosynthesis,” hinting at further initiatives that could involve exploring new models for value creation or participation in decentralized finance (DeFi) ecosystems.

Deutsche Telekom also joined the Polygon blockchain network as a validator in June 2023. Among the 100 validators securing the network, the telecom giant contributes to Polygon’s proof-of-stake consensus, enabling staking and validation services.

This role not only enhances the network’s security but also allows Deutsche Telekom to tap into new revenue streams within the blockchain industry.

In another Web3 development, Deutsche Telekom became a validator on Fetch.ai’s blockchain network in February. The partnership aims to leverage Fetch.ai’s autonomous agents powered by AI to optimize services across various domains, including healthcare, automotive, supply chain management, and digital identity.

These initiatives underscore Deutsche Telekom’s strategic pivot towards integrating blockchain technology and cryptocurrencies into its future business operations, seeking to capitalize on their potential for innovation and revenue growth.

News source：https://www.kdj.com/cryptocurrencies-news/articles/deutsche-telekom-expands-bitcoin-mining-aims-incorporate-blockchain-tech-future-business-operations.html

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