Deutsche Telekom Plans to Enter the World of Bitcoin Mining
Date: 2024-06-17 Author: Gabriel Deangelo Categories: BUSINESS
Deutsche Telekom, Europe's largest telecommunications company, has announced plans to engage in Bitcoin mining. The move is part of the company's expanded strategy to deepen its involvement in Web3 and cryptocurrency technologies.
Web3 Extension
Deutsche Telekom is already actively involved in blockchain initiatives through its subsidiary T-Systems MMS. Dirk Roeder, head of T-Systems MMS, spoke about the company's plans at the BTC Prague 2024 conference, which took place from June 13 to 15. Roeder said Deutsche Telekom has been a validator on the Bitcoin and Lightning Network since 2023 and now plans to engage in “digital monetary photosynthesis,” a term he uses to describe cryptocurrency mining.
Plan Confirmation
When Raeder was asked whether Deutsche Telekom would actually mine Bitcoin, he answered in the affirmative. This indicates the company’s serious intentions to deepen its presence in the cryptocurrency space.
Raeder also talked about how Deutsche Telekom’s position has changed in relation to Web3 and the first cryptocurrency. When he joined the company in July 2022, he was even prohibited from using the term “bitcoin” during interviews. However, a year later, the company radically changed its position, becoming more open to innovation and cryptocurrency technologies.
Participation in the Polygon and Fetch.ai Ecosystems
Deutsche Telekom is actively expanding its participation in various blockchain ecosystems. In May 2023, the company became a validator in the Polygon ecosystem, indicating its serious intentions in the Web3 space. Additionally, in February 2024, Deutsche Telekom entered into a partnership with the Fetch.ai Foundation, becoming a validator of the Fetch.ai network. These steps demonstrate the company's desire to take a leading position in the field of blockchain technologies and cryptocurrencies.
Deutsche Telekom's plans to enter the world of Bitcoin mining are a logical continuation of its strategy to integrate with Web3 and cryptocurrency technologies. This move could significantly strengthen the company's position in the rapidly developing digital economy and set an example for other large corporations.
