Bitcoin Mining Welcomes Deutsche Telekom (T-Mobile) Into The World Of Mining

Also known as T-Mobile, Deutsche Telekom is all set to enter the world of Bitcoin Mining marking a new milestone for the crypto world as the German company has been quite active in blockchain technology. 

T-Mobile Web3 CEO Dirk Roder announced his company’s plan to mine Bitcoin on Friday at BTC Prague, a major gathering for the Bitcoin community. He mentioned in a brief passage of speech that the business has been operating its node for some time. T-Mobile intends to engage in “digital monetary photosynthesis,” he continued.

The massive telecommunications company and Polygon matic, a Layer-2 scaling protocol for Ethereum (ETH), signed a cooperation on May 31. Deutsche Telekom became one of the Polygon Proof-of-Stake (PoS) network’s validators as a result of the agreement along with helping others in the line realize the potential of blockchain technology. As a result, Deutsche Telekom MMS, an affiliate, began offering validation and staking services for Polygon’s Supernet and PoS network technologies.

And hence,  Deutsche Telekom is all set to enter the world of Bitcoin Mining! 

Current Status Of Bitcoin Mining | Price Of Bitcoin 

At present, the Bitcoin mining sector is going through a rough patch. While mining revenue decreased from $78,000 to $35,000, mining one Bitcoin costs approximately $77,000. Also, the aftereffects of Bitcoin Halving in April can be seen now. 

“This spike in expenses has led to a wave of capitulation among #BTC miners in the past month,” says Ali Martinez.

At the time of writing, the price of Bitcoin was $65,446.74 with a decrease of 1.64%. Even though these prices don’t sound good, Deutsche Telekom has a high chance of reaping profits from their mining project. 

For more information stay tuned at ReadingCrypto! 

Happy Learning!