T-Mobile’s parent company, Deutsche Telekom, has revealed plans to enter the world of Bitcoin mining, expanding its existing involvement in the realm of cryptocurrency.
Since 2023, the telecommunications giant has been running a Bitcoin node and is currently operating Bitcoin Lightning Network nodes as well. Speaking at the BTC Prague event, Dirk Röder, who leads the Web3 infrastructure and solutions team at Deutsche Telekom, was asked by former Cointelegraph contributor Joseph Hall to explain the concept of “digital monetary photosynthesis.”
In addition to its Bitcoin activities, T-Mobile has been actively participating in the Web3 space as a Polygon validator since June 2023. By becoming one of the 100 validators on the network, Deutsche Telekom has been offering staking and validation services on Polygon for over a year, contributing to the platform’s proof-of-stake consensus mechanism.
Furthermore, in February, Deutsche Telekom partnered with Fetch.ai, a decentralized AI platform, to delve into enterprise AI. As a validator on the Fetch.ai blockchain, the telecom company supports AI-driven autonomous agents that operate in various sectors such as healthcare, automotive, supply chain management, and digital identities. These agents manage resources, conduct transactions, and analyze traffic flows to provide valuable services to their respective industries.
Overall, Deutsche Telekom’s foray into Bitcoin mining and its continued involvement in Web3 technologies signifies its commitment to exploring new opportunities and revenue streams in the ever-evolving world of digital assets and decentralized platforms.