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The largest telecommunications provider in Europe, Deutsche Telekom, will start mining Bitcoin
The largest telecommunications provider in Europe, Deutsche Telekom, will start mining Bitcoin
Deutsche Telekom, Europe’s largest telecom provider, is ready to venture into Bitcoin mining. This announcement was made by Dirk Röder, head of Web3 infrastructure and solutions at T-Systems MMS, a subsidiary owned by Deutsche Telekom, during the BTC conference in Prague on Friday.
Röder, wearing a T-shirt with a pink Bitcoin graphic inspired by the Deutsche Telekom logo, revealed the company’s plans with obvious enthusiasm. “From 2023 we [have been] we run a Bitcoin node and we also run Bitcoin Lightning nodes,” he said. Röder then hinted at an upcoming venture, saying: “And with a heart full of […] pride, I would like to tell you a little secret: we will soon engage in “digital monetary photosynthesis”.
This cryptic announcement prompted Bitcoin influencer Joe Nakamoto to ask for clarification, directly asking, “So is T-Mobile mining Bitcoin?” To which Röder replied succinctly: “We will.”
Deutsche Telekom’s foray into the cryptocurrency space is not limited to Bitcoin. The company has steadily increased its involvement in various blockchain initiatives. In 2022, Deutsche Telekom extended its support to the Ethereum network by running validation nodes and collaborating with the liquid staking protocol StakeWise, joining its DAO governance. This move was in line with the company’s strategy, which includes running a validation node for the Polygon network and supporting the Q and Chainlink blockchain networks. The company also operates nodes on the Polkadot and Celo networks and invests directly in the tokens of these protocols.