Deutsche Telekom subsidiary MMS in cooperation with Bankhaus Metzler will mine Bitcoin using excess energy.
The Bitcoin miners for the pilot project are hosted by Metis Solutions GmbH from Dresden. The mining containers are located on the premises of Riva GmbH Engineering, a manufacturer of metal and glass facades, in Backnang.
The company has its own system for generating electricity using a photovoltaic system. Thanks to many years of experience working with web3 infrastructure, Telekom MMS will provide maintenance services for cryptocurrency mining equipment.
Bankhaus Metzler, in turn, plans to develop a strategy for using the received bitcoins in the financial sector as part of a pilot project. Representatives of both companies noted that with the growth of electricity production from renewable energy sources, the need for stabilization of the energy system (power regulation) increases, since peaks of production occur irregularly depending on the weather.
In order to stabilize the operation of the power grid, it was decided to use the capacities for mining the first cryptocurrency, Deutsche Telekom MMS indicated. If the project is considered successful, it can be scaled up and become part of the power grid of the future, Deutsche Telekom MMS and Bankhaus Metzler noted.
