German firms test Bitcoin mining to balance renewable energy
The project highlights Bitcoin mining as a flexible solution to balance energy grids and expands the use of blockchain technology beyond finance in Germany.
Deutsche Telekom’s subsidiary, MMS, and Bankhaus Metzler have launched a pilot project to harness surplus renewable energy for Bitcoin mining, aiming to gather data that could help stabilise Germany’s energy grid. Using power generated from renewable sources that would otherwise go unused, the initiative is intended to address the frequent energy surpluses created when supply outpaces grid demand.
Located at Riva GmbH Engineering in Backnang, the project is supported by photovoltaic systems and managed by Metis Solutions. MMS will oversee the mining operations, while Bankhaus Metzler will explore potential financial applications for cryptocurrencies with this sustainable energy use.
Deutsche Telekom’s team views Bitcoin mining as a flexible solution to balance energy grids, with the potential to respond to fluctuating renewable energy production. As Hendrik König from Bankhaus Metzler highlighted, the project aims to expand Germany’s use of blockchain technology, which is becoming increasingly significant in various sectors beyond finance.
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