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Redgrid and IOEN Bring the Solarminer to California

Redgrid and IOEN Bring the Solarminer to California

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

Los Angeles-based property developer Kinfolk Properties launches 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 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.

Background

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.

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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…

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