The responsibilities in this partnership are split so that MMS is going to use its Web3 expertise to run mining systems, while Bankhaus Metzler will look for new opportunities to perform financial services related to digital assets.
Based on the results of this pilot, the partners plan to assess the feasibility of larger-scale projects and further blockchain integrations in the German energy sector.
Importantly, the project will be launched in a pilot phase. It should provide insight into the potential of Bitcoin mining as a tool for energy regulation, a strategy that is already in use in other countries such as the U.S. and Finland.
Through the use of regulated mining loads, surplus energy can be diverted to cryptocurrency mining during times of low demand, which can help eliminate the fluctuations often faced by renewable energy producers.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
