Deutsche Telekom uses $67,894 surplus energy for Bitcoin mining

Deutsche Telekom’s T-Systems MMS, in collaboration with Bankhaus Metzler, has initiated a pilot project called “Digital Monetary Photosynthesis” to utilise surplus renewable energy for Bitcoin mining. 

According to the announcement, this initiative aims to tap into electricity generated from renewable sources that typically remains unused due to grid limitations or insufficient storage. 

The project is expected to gather data and insights that can assist in future grid stabilization efforts. 

Using this surplus energy for Bitcoin mining, the project partners seek to balance the supply and demand in the energy grid, a practice similar to methods seen in Texas. 

Bitcoin miners in Texas are known for adapting their operations to help maintain grid stability during high-demand periods. 

With renewable energy sources like photovoltaic systems and wind turbines, production can be unpredictable, impacted by weather conditions that lead to fluctuating energy availability. 

“We need mechanisms that can respond quickly to changes and absorb fluctuations,” said Oliver Nyderle, Head of Digital Trust Web3 Infrastructure at T-Systems MMS. 

“Surplus energy is converted into digital values through the miners,” Nyderle added. 

For this project, Metis Solutions GmbH serves as the hosting partner, and the mining hardware is located at RIVA Engineering GmbH in Backnang, Germany, where the equipment is powered by electricity generated through a photovoltaic system. 

T-Systems MMS is responsible for managing the operation of the mining devices, drawing on its Web3 infrastructure expertise. 

Bankhaus Metzler, meanwhile, is overseeing test parameters and data analysis to explore potential applications in digital asset services. 

“Our goal is to gain experience in various application areas to further advance the innovative power of Blockchain technology in Germany,” explained Hendrik König, Head of Digital Assets Office at Bankhaus Metzler. 

“A trusted financial partner is indispensable for managing crypto assets,” König emphasised. 

At the time of reporting, the Bitcoin (BTC) price was $67,936.22.