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Deutsche Telekom Expands Crypto Footprint with Bitcoin Mining and Web3 Initiatives

Jun 15, 2024

Deutsche Telekom Expands Crypto Footprint with Bitcoin Mining and Web3 Initiatives
Deutsche Telekom Expands Crypto Footprint with Bitcoin Mining and Web3 Initiatives
Deutsche Telekom Expands Crypto Footprint with Bitcoin Mining and Web3 Initiatives

Deutsche Telekom has announced plans to expand its involvement in the cryptocurrency space, including Bitcoin mining, following its establishment as a validator on Fetch.ai's decentralised blockchain. The telecommunications giant has been operating a Bitcoin node since 2023 and currently runs Bitcoin Lightning Network nodes. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, revealed these plans at BTC Prague, stating, "Since 2023, we are running a Bitcoin node, and we are running Bitcoin Lightning nodes as well [...] I like to let you in on a little secret. We will engage in digital monetary photosynthesis soon." Deutsche Telekom has also been active as a Polygon validator since June 2023, supporting the platform's proof-of-stake consensus mechanism. Additionally, the firm has partnered with Fetch.ai to integrate enterprise AI solutions, leveraging blockchain technology to enhance autonomous agent capabilities in various industries such as healthcare, automotive, and supply chain management.