Crypto News

Redgrid and IOEN bring the solar miner to California

[PRESS RELEASE – Melbourne, Australia, 22nd June 2022]

Los Angeles-based real estate developer Kinfolk Properties is launching a solar cryptocurrency mining project, Solarminer, in Venice Beach with Redgrid and The Internet of Energy Network (IOEN).

The Solarminer is IOEN and Redgrid’s renewable energy solution to the energy problem of cryptocurrency mining. Los Angeles-based real estate developer Kinfolk Properties has partnered with Redgrid and IOEN to create sustainable Bitcoin mining and clean energy infrastructure at Kinfolk’s flagship Venice Beach multi-apartment development. Demonstration of an excellent use case for the IOEN protocol with signals from inverters and solar infrastructure.

This is what awaits you in this article

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Los Angeles-based developer Kinfolk is serious about maximizing the clean energy potential of its developments and improving the quality and cost of living for its residents. Real estate developers have been reluctant to install solar panels on their roofs due to uncertain financial returns. Sustainable developments are a key differentiator in LA’s competitive rental markets. But the solar miner has gone live on the roof of Venice’s Rose Ave and will give this apartment building a financial advantage rather than increase costs.

A clean energy infrastructure is a high priority for Kinfolk residents. However, selling excess power back to the California grid has yielded no financial benefit. Now, Redgrid’s energy data software and IOEN’s protocol will manage the “virtual microgrid” of solar panels and solar miner plant in real-time at the Rose Avenue complex and will deliver faster payback on renewable energy asset investments. In addition, the rollout of the Solarminer across Kinfolk’s development portfolio of over 250 properties will drive citywide adoption of renewable energy, including electric vehicle (EV) infrastructure.

Bitcoin mining has come under fire for its increasing carbon footprint and declining economics amid rising energy prices. Likewise, costs associated with EV infrastructure and electrification of other devices have increased. Nonetheless, acceptance and awareness of bitcoin mining is increasing rapidly. Energy costs associated with mining will only increase with demand for low-cost, high-yield clean energy solutions that are adaptable and scalable. Redgrid and IOEN’s Solarminer rig has started its #followthesun journey
in sunny Venice, LA, at the beginning of summer

“Solarminer is sustainable bitcoin mining software that uses excess clean energy from solar panels to Bitcoin mine.” – Brook Kennedy, Redgrid

“Solarminer is a key use case to demonstrate the value of the IOEN protocol. Specifically, decentralization, real-time, community-level billing of energy transactions that generate globally transferable value.” – Adam Bumpus – IOEN CEO

facts and figures

● Demonstration of an excellent use case for the IOEN protocol with signals from inverters and solar infrastructure.

● The protocol allows connected agents to participate in a “market” created by the inverter agent.

● Signals are read every 30 minutes from both the inverters and the weather/grid feeds. These two inputs are combined to provide a ‘prediction’ over the next 30 minutes of how much ‘excess’ solar energy will be available within the site from the PV array

● In this way, the rigs “suck up” any excess solar energy used to mine Bitcoin (or Bitcoin). Ethereum)

● Solar miner rig with 100% clean energy using IOEN protocol

About the Internet of Energy Network

(IOEN) is an open-source, community-driven network transforming energy grids into faster, cleaner, and smarter energy markets. IOEN’s intelligent protocol is built on Holchain and shares the same secure, hyper-scalable foundation. (https://www.ioen.tech/)

About Redgrid

Redgrid’s energy data platform, using the IOEN protocol, enables residential or commercial users to reduce their carbon footprint by using energy when more renewable energy is on the grid. Redgrid’s technology transforms the built environment into a cooperative network of energy consuming and generating devices, creating the only energy marketplace that transacts in real-time globally. Redgrid uses the IOEN protocol to bring the smart city technology of the future into your home. (https://www.redgrid.io/)

Source: Crypto News Deutsch

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