Largest Telecom Provider in Europe, Deutsche Telekom, Will Begin Mining Bitcoin
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Largest Telecom Provider in Europe, Deutsche Telekom, Will Begin Mining Bitcoin

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3 weeks ago

Deutsche Telekom, Europe's largest telecommunications provider, is set to venture into Bitcoin mining.

Largest Telecom Provider in Europe, Deutsche Telekom, Will Begin Mining Bitcoin

Deutsche Telekom, Europe's largest telecommunications provider, is set to venture into Bitcoin mining. This announcement was made by Dirk Röder, head of Web3 infrastructure and solutions at T-Systems MMS, a Deutsche Telekom-owned subsidiary, during the BTC Prague conference on Friday.

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Röder, who sported a shirt featuring a pink Bitcoin graphic styled after Deutsche Telekom's logo, revealed the company's plans with evident enthusiasm. "Since 2023 we [have been] running a Bitcoin node and we are running Bitcoin Lightning nodes as well," he stated. Röder then hinted at an upcoming venture, saying, "And with a heart full of [...] pride, I would like to let you in on a little secret: we will engage in 'digital monetary photosynthesis' soon."

This cryptic announcement prompted Bitcoin influencer Joe Nakamoto to seek clarification, directly asking, "So is T-Mobile mining Bitcoin?" To which Röder responded succinctly, "We will."

Deutsche Telekom's foray into the cryptocurrency space isn't confined to Bitcoin. The company has been steadily increasing its involvement in various blockchain initiatives. In 2022, Deutsche Telekom extended its support to the Ethereum network by running validator nodes and collaborating with the liquid staking protocol StakeWise, joining its governance DAO. 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 firm also operate nodes on the Polkadot and Celo networks and makes direct investments in these protocols' tokens.

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