Deutsche Telekom Ventures into Bitcoin Mining

Deutsche Telekom to Enter Bitcoin Mining
German telecommunications giant Deutsche Telekom, also known as T-Mobile, plans to venture into Bitcoin mining, as announced by T-Mobile Web3 Chief Dirk Roder at the BTC Prague event. The firm has been operating its own node and is preparing to engage in what Roder termed "digital monetary photosynthesis." This move follows the company’s recent forays into blockchain technology, including partnerships with Ethereum Layer-2 scaling protocol Polygon and Fetch.ai.
Despite the current challenges in the Bitcoin mining industry, such as high costs and low revenue post-Bitcoin halving, Deutsche Telekom believes it can achieve profitability. The announcement marks a significant shift for the crypto industry, given Deutsche Telekom’s substantial reputation.