T-Mobile parent and other Telecom giant to mine Bitcoin

Coolpad Group and Deutsche Telekom are making investments in Bitcoin mining, marking a major shift in the telecom and cryptocurrency industries. Coolpad has invested $13.5 million to purchase 2,700 Bitcoin mining rigs, primarily to be deployed in North America, as part of its broader strategy to delve into the cryptocurrency and Web3 sectors. This investment also includes plans to acquire shares in US-based crypto firms like CleanSpark.

Meanwhile, Deutsche Telekom has announced its entry into Bitcoin mining, with details confirmed by Dirk Röder at the BTC Prague conference. Although specifics of their mining operations remain undisclosed, this move builds on Deutsche Telekom’s existing engagement in the digital assets space, including running Bitcoin and Lightning nodes since 2023. Both companies' ventures into Bitcoin mining underscore a growing trend of traditional telecom giants exploring and expanding into the cryptocurrency domain.

https://www.coinfeeds.io/daily/telecom-giants-coolpad-and-deutsche-telekom-dive-into-bitcoin-mining