Key Takeaways
- Deutsche Telekom’s subsidiary and Bankhaus Metzler are launching a Bitcoin mining undertaking in Germany utilizing surplus renewable vitality.
- The undertaking checks Bitcoin miners’ potential to stabilize the vitality grid and helps the rising pattern of utilizing blockchain know-how in non-financial sectors.
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MMS, a subsidiary of Deutsche Telekom, Europe’s largest telecommunications supplier, and Bankhaus Metzler, are teaming as much as check the feasibility of utilizing Bitcoin mining to stabilize the vitality grid in Germany, based on a Monday press launch.
The pilot undertaking goals to handle the rising concern of grid instability brought on by renewable vitality fluctuations. It should check if Bitcoin mining can act as a versatile load to soak up surplus vitality and stabilize the grid.
The mining operation might be hosted by Metis Options GmbH at Riva GmbH Engineering’s facility in Backnang, which has its personal photovoltaic system. Telekom MMS will handle the mining units, whereas Bankhaus Metzler will deal with check runs and information evaluation, as famous within the press launch.
“With the rising variety of renewable vitality sources and the ensuing fluctuations in accessible vitality, the necessity for shortly accessible regulating energy will increase,” mentioned Oliver Nyderle, Head of Digital Belief & Web3 Infrastructure at Deutsche Telekom MMS. “Along with Bankhaus Metzler and RIVA Engineering GmbH, we’re taking a step on this path to check the regulatory impact of Bitcoin miners within the vitality grid.”
The undertaking follows related profitable implementations within the US and Finland, the place Bitcoin miners assist stability grid provide and demand. The versatile load traits of mining operations might probably help in stabilizing vitality grids during times of fluctuation, notably helpful for wind and solar energy producers.
Hendrik König, Head of Digital Property Workplace at Bankhaus Metzler, said:
“Our purpose is to achieve expertise in varied software areas to additional advance the progressive energy of blockchain know-how in Germany. Blockchain know-how is gaining growing significance in operational enterprise exterior the monetary business – and a trusted monetary accomplice is indispensable for managing crypto property.”
Deutsche Telekom first revealed its plan to have interaction in Bitcoin mining in June this 12 months. The corporate mentioned it aimed to make the most of surplus renewable vitality to energy these mining operations, selling sustainable practices.
This isn’t Deutsche Telekom’s first foray into the blockchain house. The corporate, via its subsidiary, has been actively concerned in varied blockchain tasks, supporting networks together with Chainlink, Fetch.AI and Polygon. In 2023, Telekom MMS started operating a Bitcoin node, marking its entry into proof-of-work networks.
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