CandleFocus German tradFi giants confirm trial to mine Bitcoin with surplus energy to stabilize grid
2024-11-04
Author: Content Editor
German telecom giant Deutsche Telekom has partnered with Bankhaus Metzler to launch a pilot project testing Bitcoin mining infrastructure powered by surplus renewable energy. The initiative aims to utilize excess electricity from renewable sources that would otherwise remain unused due to grid limitations or insufficient storage options. The project seeks to validate the effectiveness of utilizing Bitcoin mining to balance supply and demand within the energy grid. The mining operations are hosted by Metis Solutions GmbH and located in Backnang, Germany. Telekom MMS operates the mining devices, while Bankhaus Metzler analyzes data and explores further possibilities for financial services with digital assets. The pilot project aims to gather data and insights to contribute to stabilizing the energy grid during fluctuations.
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