{"id":81420,"date":"2024-06-15T01:19:11","date_gmt":"2024-06-15T05:19:11","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=81420"},"modified":"2024-09-12T12:26:09","modified_gmt":"2024-09-12T16:26:09","slug":"deutsche-telekom-t-mobile-hints-at-joining-bitcoin-mining-scene","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/deutsche-telekom-t-mobile-hints-at-joining-bitcoin-mining-scene\/","title":{"rendered":"Deutsche Telekom (T-Mobile) Hints At Joining Bitcoin Mining Scene"},"content":{"rendered":"\n

German telecommunications giant\u00a0Deutsche Telekom indicates that it is considering entering the Bitcoin mining industry<\/a> through its executive.<\/p>\n\n\n\n

\"Deutsche<\/figure>\n\n\n\n

Deutsche Telekom, a German telecommunications company also known as T-Mobile, is currently in the process of developing plans to thoroughly engage in Bitcoin mining in the near future.<\/p>\n\n\n\n

Deutsche Telekom in the Blockchain Ecosystem<\/h2>\n\n\n\n

BTC Prague, a significant event for the Bitcoin community<\/a>, is presently underway.\u00a0<\/p>\n\n\n\n

On Friday, Dirk Roder, Chief Executive Officer of T-Mobile Web3, disclosed his organization's intention to mine Bitcoin.<\/p>\n\n\n\n

In a brief speech snippet, he revealed that the company has been operating its own node for a while.<\/p>\n\n\n\n

He further stated that T-Mobile intends to participate in “digital monetary photosynthesis.”<\/p>\n\n\n\n

Then, Joe Nakamoto attempted to obtain more details, specifically inquiring as to whether the German telecommunications company intended to mine Bitcoin.<\/p>\n\n\n\n

Roder replied, “We will.”<\/p>\n\n\n\n

\n

YOU WERE NOT READY\u2026

\u201cIs T-Mobile mining #bitcoin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>?\u201d
\u2014 @JoeNakamoto<\/use><\/svg><\/span><\/a>

\u201cWe 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.\u201d
\u2014 @21hemoon<\/use><\/svg><\/span><\/a>

You heard it at #BTCPrague<\/use><\/svg><\/span><\/a> first! \ud83d\ude80 https:\/\/t.co\/gXbZMZqQRk<\/use><\/svg><\/span><\/a> pic.twitter.com\/Asy5x5iA7M<\/use><\/svg><\/span><\/a><\/p>— BTC Prague (@BTCPrague) June 14, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

The broader crypto industry will undergo a significant paradigm shift if this ultimately transpires, given Deutsche Telekom's reputation.<\/p>\n\n\n\n

The German company has made significant strides in the blockchain industry over the past few months.<\/p>\n\n\n\n

On May 31, Ethereum (ETH) Layer-2 scaling protocol Polygon (MATIC)<\/a> announced a collaboration with the telecommunications giant.<\/p>\n\n\n\n

Deutsche Telekom became one of the validators on the Polygon Proof-of-Stake (PoS) network as a result of the partnership.<\/p>\n\n\n\n

Concurrently, it facilitates the organization's investigation of blockchain technology's complete capabilities.<\/p>\n\n\n\n

As a result, Deutsche Telekom's subsidiary, Deutsche Telekom MMS, began offering both staking and validation services for Polygon's PoS network and Supernet solutions.<\/p>\n\n\n\n

Similarly, Fetch.ai, an Artificial Intelligence (AI) company based in the United Kingdom, has entered into a new strategic partnership with Deutsche Telekom and Bosch to enhance its AI and blockchain offerings.<\/p>\n\n\n\n

The primary responsibility of the German firm as a validator for Fetch.ai is to ensure that all transactions are secure and reliable, as well as to safeguard the network's integrity.<\/p>\n\n\n\n

Bitcoin Mining Industry Sees Low Revenue<\/h2>\n\n\n\n

However, the Bitcoin mining industry is currently encountering certain obstacles.<\/p>\n\n\n\n

After the Bitcoin halving event in April 2024, the revenue of miners experienced a substantial decline, while the mining cost for the lead cryptocurrency<\/a> increased substantially.<\/p>\n\n\n\n

While the average cost of mining 1 BTC is around $77,000, the mining revenue has decreased from $78,000 to $35,000.<\/p>\n\n\n\n

Ali Martinez has stated that, \u201cthis spike in expenses has led to a wave of capitulation among #BTC miners in the past month.\u201d<\/p>\n\n\n\n

The price of Bitcoin has decreased as a result of all of these outlooks.<\/p>\n\n\n\n

After reaching $71,000 a few days ago, the coin is currently trading at $65,815.27.<\/p>\n\n\n\n

Earlier today, Bitcoin price\u00a0<\/use><\/svg><\/span><\/a>plummeted to $65,000, marking a more than 8% decline in\u00a07 days.<\/p>\n\n\n\n

Despite this, Deutsche Telekom might hit profitability if it choose to join the likes of Tether in mining the coin.<\/p>\n","protected":false},"excerpt":{"rendered":"

German telecommunications giant\u00a0Deutsche Telekom indicates that it is considering entering the Bitcoin mining industry through its executive. Deutsche Telekom, a German telecommunications company also known as T-Mobile, is currently in the process of developing plans to thoroughly engage in Bitcoin mining in the near future. Deutsche Telekom in the Blockchain Ecosystem BTC Prague, a significant event […]<\/p>\n","protected":false},"author":56,"featured_media":81422,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83],"tags":[754,2229],"class_list":["post-81420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","tag-bitcoin-mining","tag-t-mobile"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/Deutsche-Telekom-T-Mobile-Hints-At-Joining-Bitcoin-Mining-Scene.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=81420"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81422"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=81420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=81420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=81420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}