Europe's biggest telecom to start mining Bitcoin

During the Bitcoin conference in Prague, a representative of one of the largest telecommunications companies in the world came out with an important announcement.

Dirk Roder, head of the Web3 division of Telekom MMS, a subsidiary of Deutsche Telecom, was one of the speakers at the conference, which was attended by prominent figures in the crypto space such as Michael Saylor and Adam Beck.

He stated that he was interviewed for the leadership position in July 2022 and that there was one condition for his employment - that he not use the word Bitcoin .

One year later, the company already operates its own Bitcoin node, as well as a number of nodes in the Lightning network.

Roder stated:

"I'm proud to let you in on a little secret: We'll soon be engaging in digital monetary photosynthesis."

The host of the event then asked him to explain in simple terms what that meant and if he meant that they intended to mine Bitcoin.

Roder unequivocally answered "Yes".

YOU WERE NOT READY…

“Is T-Mobile mining #bitcoin ? "
— @JoeNakamoto

"We will!

With a chest full of fckng pride, I like to let you in on a little secret: We will engage in digital monetary photosynthesis soon.”
— @21hemoon

You heard it at #BTCPrague first! 🚀 https://t.co/gXbZMZqQRk pic.twitter.com/Asy5x5iA7M

— BTC Prague (@BTCPrague) June 14, 2024

This news carries a lot of weight for the crypto space, as Deutsche Telecom is the largest telecommunications company in Europe and the third largest globally.

For the fiscal 2023 alone, the company's revenues amounted to a staggering €114.4 billion.

This means competition for traditional Bitcoin mining companies like Marathon and Riot is getting fiercer, especially with giants of the caliber of Deutsche Telecom, whose capacity could make them a leader in the sector.