According to a report by Cointelegraph, Deutsche Telekom has announced that it will start a Bitcoin mining business. It is reported that the telecommunications company has been operating Bitcoin nodes through its subsidiary Multimedia Solutions GmbH (MMS) since 2023, and is currently running nodes for the Bitcoin Lightning Network. Dirk Röder, Head of Web3 Infrastructure and Solutions at MMS, stated at the BTC Prague conference that when asked by Bitcoin influencer Joe Nakamoto about the meaning of “photosynthesis” in relation to participating in Bitcoin mining, Röder responded, “We will.”
In fact, the company has been deeply involved in the Web3 space, so the announcement of expanding into Bitcoin mining business does not come as a surprise. In 2020, the Deutsche Telekom subsidiary MMS announced its participation as a node operator in the Chainlink network. In 2021, MMS announced the acquisition of a significant amount of CELO and became a network node; in December of the same year, MMS announced that it would be running validation nodes for the Polkadot network.
In 2022, the company announced the launch of an Ethereum validation node and support for staking. In June 2023, MMS became a Polygon validator actively participating in Web3, leveraging its extensive infrastructure and seeking new sources of revenue. In February 2024, MMS became a validator for Fetch.ai and a node operator for EigenLayer.