melbourne, Australia, 22nd June, 2022, Chainwire
The Solarminer is IOEN and Redgrid’s renewable energy solution to cryptocurrency mining’s energy problem. Los Angeles-based property developer, Kinfolk Properties, has teamed up with Redgrid and IOEN to integrate sustainable Bitcoin mining and clean energy infrastructure into Kinfolk’s flagship multi-dwelling Venice Beach residential development. Demonstrating an excellent use case for IOEN’s protocol with signals from inverters and solar infrastructure.
LA-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. Property developers have been reluctant to deploy solar panel installations on their rooftops due to uncertain financial returns. Sustainable developments are a key differentiator in competitive rental markets in LA. But the Solarminer has gone live atop the rooftop of Rose Ave, Venice, and will deliver this multi-dwelling complex a financial advantage rather than increase expenses.
Clean energy infrastructure is a high priority for Kinfolk’s residents. However, selling excess energy back to the grid in California has not delivered a financial benefit. Now, Redgrid’s energy data software and IOEN’s protocol are managing the ‘virtual microgrid’ of solar panels, and the Solarminer rig in real-time on the Rose Avenue complex, and will deliver a faster payback for investment in renewable energy assets. In addition, rolling out the Solarminer across Kinfolk’s development portfolio of 250+ properties will encourage the city-wide adoption of renewable energy, including Electric Vehicle (EV) infrastructure.
Bitcoin mining has come under fire for its increasing carbon footprint and diminishing economic viability as energy prices increase. So too have increased costs associated with EV infrastructure and electrification of other appliances. Nevertheless, the adoption and awareness of Bitcoin mining are rising fast. Energy costs associated with mining will only increase along with demand for low-cost, high-return clean energy solutions that are adaptable and scalable. Redgrid and IOEN’s Solarminer rig has begun its #followthesun journey in sunny Venice, LA, at the beginning of summer
“Solarminer is a sustainable bitcoin mining software that uses excess clean energy generated from solar panels to mine bitcoin.” – Brook Kennedy, Redgrid
“Solarminer is a core use case for demonstrating the value of the IOEN protocol. Specifically, decentralization, real-time settlements of community-level energy transactions that produce globally transferable value.” – Adam Bumpus – IOEN CEO
● Demonstrating an excellent use Case for IOEN’s protocol with signals from inverters and solar infrastructure.
● The protocol enables connected agents to participate in a “market” that is created by the Inverter agent.
● Signals are read every 30 minutes from both the Invertors and the Weather/Grid feeds. Both these inputs are combined to provide a “prediction” for the next 30-minute period of how much “surplus” solar will be available within the site from the PV System
● In this way, the rigs will “soak up” any surplus solar which will be used to mine for Bitcoin (or Ethereum)
● 100% clean energy Solarminer rig using the IOEN protocol
About The Internet of Energy Network
(IOEN) is an open-source, community-driven network for transforming energy grids into faster, cleaner, smarter energy markets. IOEN’s intelligent protocol is built on Holchain and shares the same secure, hyper-scalable foundation. (https://www.ioen.tech/)
Redgrid’s energy data platform, using the IOEN protocol, allows residential or commercial users to reduce their carbon footprint by using energy when there are more renewables in the grid. Redgrid’s technology transforms the built environment into a cooperative grid of energy-consuming and producing devices, creating the only energy market that settles transactions in real-time worldwide. Redgrid uses the IOEN protocol to deliver the future’s smart city technology to your homes. (https://www.redgrid.io/)
This is a paid press release. Securities.io does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Securities.io is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Advertiser Disclosure: Securities.io is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. We may receive compensation when you click on links to products we reviewed.
ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.
Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.
This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.
Securities.io is not a registered broker, analyst, or investment advisor.