- Deutsche Telekom and Bankhaus Metzler explore using surplus energy for Bitcoin mining.
- The initiative aims to stabilize energy grids by balancing supply and demand.
- The project is hosted by Metis Solutions GmbH, with infrastructure at RIVA Engineering in Germany.
Mon Nov 4 11:58:10 – 2024 UTC Deutsche Telekom’s subsidiary, Telekom MMS, and Bankhaus Metzler have launched a pilot project to test Bitcoin mining as a way to use surplus energy and help stabilize Germany’s electricity grid.
Named “Digital Monetary Photosynthesis,” the initiative will use surplus renewable energy—generated when production exceeds grid storage capacity—to power Bitcoin mining. The mining process, which is set up in partnership with Metis Solutions GmbH at RIVA Engineering’s facilities in Backnang, Germany, aims to gather data to assess the feasibility of broader applications.
This trial addresses an increasing challenge in renewable energy management: balancing fluctuating power generated by solar and wind sources. Peaks in renewable energy output, often influenced by weather conditions, can strain the grid when electricity supply surpasses demand. Bitcoin mining, with its highly flexible power consumption, offers a potential solution, as seen in similar projects in the United States and Finland. By turning excess power into digital assets, the project seeks to transform surplus energy into a stabilizing tool for grid operators.
Mining Technology and Goals
The Bitcoin mining setup, hosted by Metis Solutions, includes portable mining containers on RIVA Engineering’s grounds. This facility, already equipped with a photovoltaic system, exemplifies the type of mid-sized enterprise that could benefit from new applications of surplus energy. Telekom MMS, leveraging its experience with web3 technologies, will manage the mining operations, while Bankhaus Metzler studies the potential for expanding digital asset services. The companies will use real-time test data to assess Bitcoin mining’s viability as a scalable grid-stabilizing solution.
This pilot project highlights an innovative approach to energy and digital asset convergence, which could provide an economic solution to managing surplus renewable energy.