Germany’s Deutsche Telekom Is Expected to Start Mining Bitcoin

The unit’s head of web3 Infrastructure and solutions, Dirk Röder, teased the plans during a talk at the BTC Prague conference around June 14.

Deutsche Telekom is preparing to begin mining Bitcoin, an executive at its subsidiary Telekom MMS has revealed.

During a talk at the BTC Prague conference on June 14, Dirk Röder, head of web3 infrastructure and solutions at the unit, teased the plans.

Meanwhile, another telecom company — Coolpad — is looking to expand its mining operations in North America with a $13.6 million investment.

Deutsche Telekom

Röder hinted that the firm would soon begin “engaging in digital monetary photosynthesis.” When the host asked him whether the company is mining Bitcoin, Röder simply replied:

“We will.”

Röder went on to say that the company has been running a Bitcoin node and Lightning Network node since 2023.

He also mentioned that when Deutsche Telekom interviewed him to lead the Web3 infrastructure team in 2022, he was “not allowed to use [the] word Bitcoin” in the interview — highlighting a significant shift in the firm's stance toward the flagship crypto.

According to official statements, Deutsche Telekom and its subsidiary T-Systems MMS operate validators for Polygon, Q, Flow, Celo, Chainlink, and Ethereum. The firms also hold tokens related to some projects and have partnered with StakeWise on liquid ETH staking.

Coolpad to increase hash power

In a June 13 filing with the Hong Kong Stock Exchange, Chinese telecom group Coolpad disclosed plans to acquire $13.6 million of Bitcoin mining equipment.

The equipment will be deployed in North America, increasing Coolpad's hash power to 1.5 million TH/S from 873,000 TH/S.

Describing crypto mining as an “attractive business” that can enhance Coolpad's long-term profitability and create a more balanced business segment, the board's statement noted that the group is “actively pursuing opportunities” in the crypto sector, which it terms an “application of Web 3.0 technology.”

Coolpad began mining in the second half of 2023.

Furthermore, in May 2024, Coolpad revealed that it had purchased shares of Cleanspark (CLSK) and BlackRock's iShares Bitcoin Trust (IBIT). Moving forward, Coolpad stated that it may acquire various other spot Bitcoin ETFs and securities in the crypto sector.

Mentioned in this article

Mike Dalton

Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.

Assad Jafri

AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.

Latest China Stories

World’s largest bank ICBC praises the evolution of Bitcoin, Ethereum as innovative financial assets

ICBC compared Bitcoin to gold and said Ethereum has established itself as "digital oil" capable of powering myriad applications across the web3 ecosystem.

Bybit opens doors to Chinese users despite regulatory hurdles

China has continued to publicly maintain a hostile stand towards crypto trading activities.

Hong Kong pilots first-ever digital yuan payment system for cross-border transactions

The Digital Yuan pilot scheme does not support peer-to-peer transactions.

Bitcoin and Ethereum ETFs could launch in Hong Kong before halving – reports

Bloomberg is reporting that both Bitcoin and Ethereum ETFs are expected to be approved as early as Monday.

Latest Press Releases

UDAO Token Now Live on Gate.io and MEXC

StarCheck Announces The Most Accessible and Affordable Retail AML Checks

Autonomys Network: ex-Jumio Executive Appointed CEO for New deAI Vision Ahead of Mainnet Launch