Deutsche Telekom, the parent company of T-Mobile, is planning to enter the world of Bitcoin mining as part of its efforts to explore new revenue streams. The company has already been active in the Web3 space, operating a Bitcoin node and multiple nodes on the Lightning Network, a Bitcoin scalability solution, and participating in validation on various networks.
Dirk Röder, who leads the Web3 infrastructure and solutions team at Deutsche Telekom, announced the company’s plans at the BTC Prague event. He mentioned that since 2023, Deutsche Telekom has been running a Bitcoin node and Lightning nodes, and now they are ready to venture into Bitcoin mining.
In addition to their Bitcoin-related activities, Deutsche Telekom recently partnered with Fetch.ai, a decentralized AI platform that provides AI agents for industries such as automotive, healthcare, and supply chain management. By operating a validator node on the Fetch.ai network, Deutsche Telekom is strengthening the platform’s security and promoting its adoption in various sectors.
Furthermore, Deutsche Telekom has set up a validator node on Polygon, a sidechain network that uses Proof-of-Stake consensus. By offering staking services to delegators and contributing to the network’s security, Deutsche Telekom is able to earn block rewards and increase its revenues. The company’s validator node is among the 100 validators on the Polygon network.
The decision to start Bitcoin mining comes at a time when many miners are considering leaving the network due to reduced block rewards following a recent halving. However, companies like Marathon Digital and CleanSpark are exploring opportunities to maximize profitability by establishing mining facilities overseas and engaging in energy-based projects.
Deutsche Telekom, with its extensive telecommunications infrastructure and experience in validating on various networks, is well-positioned to enter the mining space and make the most of its resources efficiently. By leveraging its global reach and expertise, the company aims to establish successful mining operations and contribute to the growth of the Bitcoin network.