This project aims to use extra energy that would usually go to waste to power Bitcoin mining. This helps the environment while generating digital currency.
When we produce energy from renewable sources like solar and wind, sometimes we make more electricity than we can use. This excess energy often gets wasted because the power grid can’t handle it all. Or there aren’t enough batteries to store it. This is where Bitcoin mining comes into play. The project will use this surplus energy that would otherwise be lost to mine Bitcoin. Let’s discover more about this news about green Bitcoin mining.
Turning Waste Energy into Digital Gold
This pilot project is designed to gather important data and insights that can help plan future projects in Germany. By using flexible energy loads, Bitcoin miners can balance the supply and demand for electricity, especially during peak production times when renewable energy is high.
The ultimate goal is to use the data collected from this pilot to help keep the energy grid stable when production fluctuates, which often happens due to changing weather. For example, when the sun is shining bright or the wind is blowing strong, there can be a sudden surge in energy. Bitcoin miners can help absorb this extra energy and prevent grid overload.
Telekom and Bankhaus Metzler Test Bitcoin Mining Infrastructure for Surplus Energy
Satoshi’s vision was to establish a secure, decentralized system for value transfer that empowers individuals and eliminates the need for intermediaries.
In line with this, we are partnering with…
— Telekom Web3 Infrastructure & Solutions (@mms_Blockchain) November 4, 2024
The mining setup is managed by Metis Solutions GmbH from Dresden. The Bitcoin mining containers are located at Riva GmbH Engineering in Backnang, which produces metal and glass facades and has its own solar power system. Thanks to their experience in web3 infrastructure, Telekom MMS will operate the mining devices. Together with Bankhaus Metzler, they will define and analyze the test runs and data collected during the pilot.
More About Bitcoin Mining
Argentina’s Central Bank has made headlines by opening an exhibit featuring active Bitcoin mining rigs, marking a significant milestone as the first central bank in the world to openly engage in Bitcoin mining.
The central bank of Argentina opened an “art exhibit” yesterday that includes bitcoin mining equipment actively mining bitcoin.
This is the first central bank in the world I am aware of to be openly mining bitcoin.
The future is coming very fast. pic.twitter.com/9mHEB9P0YP
— Anthony Pompliano
(@APompliano) November 1, 2024
By demonstrating the mining process and its technology, the bank aims to educate the public about Bitcoin and its role in the financial landscape. This move reflects Argentina’s growing interest in cryptocurrency as a tool for economic development, especially amid ongoing challenges related to inflation and currency devaluation.
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The post Green Bitcoin Mining: Telekom and Metzler Join Forces appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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