Berlin, Thursday, November 07, 2024 – In a significant move towards sustainable cryptocurrency mining, Deutsche Telekom’s subsidiary, MMS, has partnered with Bankhaus Metzler to launch a green Bitcoin mining pilot in Germany.
The project aims to harness excess renewable energy, such as surplus wind and solar power, to fuel Bitcoin mining operations, thereby reducing energy wastage and contributing to grid stability.
The mining initiative will take place at Riva GmbH Engineering’s facility in Backnang, Germany, which generates its own electricity via an on-site photovoltaic system.
The flexible nature of Bitcoin mining allows it to absorb this surplus energy, which helps balance the power grid. Similar grid management strategies using Bitcoin mining have shown success in the United States and Finland, where miners help regulate energy loads during production spikes.
The German pilot reflects a trend towards eco-friendly Bitcoin mining, particularly as countries like Russia implement strict limits on private crypto mining due to high electricity consumption concerns.
