Telekom and Bankhaus Metzler Test Bitcoin Mining Infrastructure for Surplus Energy

Source: www.gulfoilandgas.com 11/1/2024, Location: Europe

Pilot project "Digital Monetary Photosynthesis" aims to provide data for stabilizing energy grids
Metis Solutions GmbH is the hosting partner, Bitcoin mining container is located at RIVA Engineering GmbH in Backnang, Germany
Test Bitcoin Mining Infrastructure for Surplus Energy.

Deutsche Telekom subsidiary MMS, in collaboration with Bankhaus Metzler, is launching a pilot project to operate a Bitcoin mining infrastructure using surplus energy. The mining is intended to be powered by electricity from renewable energy sources, which would otherwise remain unused due to insufficient grid input possibilities and/or lack of storage options. The pilot project aims to provide valid field data and insights to plan subsequent projects.

With the increasing production of electricity from renewable energy sources, the need to stabilize the energy grid (regulating power) also rises, as production peaks occur irregularly depending on the weather. Particularly through photovoltaic and wind power, there is an increasing amount of surplus energy. This regulating power through Bitcoin mining is already successfully practiced in other countries (including the USA and Finland). The pilot project aims to validate the process for Germany.

Due to the flexible load, Bitcoin miners could play an important role in balancing supply and demand in the energy grid in the future. The long-term goal is to use the data obtained from the pilot project to contribute to the stabilization of the energy grid during energy fluctuations that stress the grid. Additionally, wind power producers or photovoltaic plant operators could benefit from this technology, as they often face the challenge of unpredictable regulating power.

Mining at a Medium-Sized Enterprise
The hosting of the Bitcoin miners for the pilot project is managed by Metis Solutions GmbH from Dresden. The mining containers are located on the premises of Riva GmbH Engineering, a manufacturer of metal and glass facades, in Backnang. The company has its own electricity production from a photovoltaic system. Telekom MMS, thanks to years of experience with web3 infrastructure, takes care of the operation of the devices. Together with Bankhaus Metzler, test runs and data evaluations are defined and analyzed. Bankhaus Metzler explores further possibilities of financial services with digital assets through the pilot project.

“With the growing number of renewable energy sources and the resulting fluctuations in available energy, the need for quickly available regulating power increases. For this, we need mechanisms that can respond quickly to changes and absorb fluctuations. Together with Bankhaus Metzler and RIVA Engineering GmbH, we are taking a step in this direction to test the regulatory effect of Bitcoin miners in the energy grid. Surplus energy is converted into digital values through the miners. We call this digital monetary photosynthesis”, says Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS.

Hendrik König, Head of Digital Assets Office at Bankhaus Metzler: “Our goal is to gain experience in various application areas to further advance the innovative power of blockchain technology in Germany. Therefore, we are very pleased to be part of this pilot project with Telekom MMS. Blockchain technology is gaining increasing importance in operational business outside the financial industry – and a trusted financial partner is indispensable for managing crypto assets.”

Web3 Infrastructure Provider Since 2020
Since 2020, Telekom MMS has been providing infrastructure for various decentralized protocols in the Web3 sector, including Chainlink, Fetch.ai, and Polygon, among others. Since 2023, Telekom has also been operating a Bitcoin node, thus expanding its portfolio for the first time with a Proof-of-Work network.

Digital Assets in the Financial Sector
Bankhaus Metzler founded the Digital Assets Office (DAO) in 2022, which is exclusively dedicated to blockchain technology and the digital assets ecosystem. Metzler has identified blockchain technology as a strategic future topic and plans to implement blockchain solutions for customers in the long term. With the DAO, Metzler positions itself as a pioneer in the industry and leverages the opportunities of digital transformation to offer its clients innovative solutions and competitive advantages.


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