Germany’s
Deutsche
Telekom
is
expected
to
start
mining
Bitcoin,
according
to
an
executive
at
its
subsidiary
Telekom
MMS.
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.
Meanwhile,
another
telecom
company
—
China-based
Coolpad
—
is
looking
to
expand
its
mining
operations
in
North
America
via
a
$13.6
million
investment.
Deutsche
Telekom
Röder
that
the
firm
would
soon
start
“engaging
in
digital
monetary
photosynthesis.”
When
the
host
asked
him
whether
the
company
is
mining
Bitcoin,
Röder
simply
said:
“We
will.”
Röder
added
that
the
company
has
operated
a
Bitcoin
node
and
Lightning
Network
node
since
2023.
He
also
shared
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
—
signifying
a
notable
shift
in
the
firm’s
stance
toward
the
flagship
crypto.
Deutsche
Telekom
has
officially
stated
that
it
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
Chinese
telecom
group
Coolpad
disclosed
plans
to
acquire
$13.6
million
of
Bitcoin
mining
equipment
in
a
June
13
filing
with
the
Hong
Kong
Stock
Exchange.
The
group
intends
to
deploy
equipment
in
deployment
in
North
America,
increasing
its
hash
power
to
1.5
million
TH/S
from
873,000
TH/S.
Coolpad
said
it
is
“actively
pursuing
opportunities”
in
the
crypto
sector,
which
it
called
an
“application
of
Web
3.0
technology,”
and
said
it
plans
to
continue
expanding
its
investments.
Meanwhile,
the
group’s
board
called
crypto
mining
an
“attractive
business”
that
can
increase
Coolpad’s
long-term
profitability
and
create
a
more
diversified
balance
of
business
segments.
Coolpad
began
mining
in
the
second
half
of
2023.
Additionally,
in
May
2024,
Coolpad
disclosed
that
it
had
purchased
shares
of
Cleanspark
(CLSK)
and
BlackRock’s
iShares
Bitcoin
Trust
(IBIT).
Going
forward,
Coolpad
said
it
may
buy
various
other
spot
Bitcoin
ETFs
and
securities
in
the
crypto
sector.
Mentioned
in
this
article
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Author: Mike Dalton
