Deutsche Telekom Plans to Start Mining Bitcoin (BTC)

The announcement, made at a conference in Prague, Czechia, comes after the company started running a Bitcoin node in 2023. s largest telecommunications provider says it plans to mine Bitcoin (BTC).

The announcement, made at a conference in Prague, Czech Republic, comes after the company began operating a Bitcoin node in 2023.

At the conference, it was confirmed that T-Mobile (TMUS), in which Deutsche Telekom holds a large stake, may also start mining Bitcoin.

T-Mobile itself has not made any statements regarding cryptocurrency mining.

Deutsche Telekom executives said their moves into the crypto space will not be limited to Bitcoin. The company is also increasing its involvement in various blockchain initiatives.

Deutsche Telekom currently supports the Ethereum (ETH) network.

It has not been disclosed how large Deutsche Telekom's Bitcoin mining operation will be and how much cryptocurrency it hopes to ultimately mine.

Bitcoin mining is becoming more intense with industry consolidation after BTC went through its halving event this April.

Halfing events are when the current supply of Bitcoin and the rewards for mining it are reduced by half.

Bitcoin's price is up 48% so far in 2024, trading at $65,500 per token.

Deutsche Telekom stock is up 3% on the year and is trading at 22.59 euros ($24.20) per share.

News source：

https://www.kdj.com/cryptocurrencies-news/articles/deutsche-telekom-plans-start-mining-bitcoin-btc.html

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