Redgrid & IOEN Bring the Solarminer to California

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Los Angeles-based real estate developer Kinfolk Properties has teamed up with Redgrid and IOEN to integrate sustainable Bitcoin mining and clean energy infrastructure into Kinfolk’s flagship Venice Beach residential development. Demonstrating an excellent use case for the IOEN protocol with inverter signals and solar infrastructure.

Kinfolk Properties launches Solarminer

LA-based developer Kinfolk is serious about maximizing the clean energy potential of its developments and improving the quality and cost of living of its residents. Real estate developers have been reluctant to deploy solar panel installations on their roofs due to uncertain financial income. Sustainable developments are a key differentiating factor in competitive rental markets in LA. But the Solarminer has started operating on the roof of Rose Ave in Venice, and will offer this multi-apartment complex a financial advantage rather than increased costs.

Clean energy infrastructure is a high priority for Kinfolk residents. However, selling the excess power to the grid in California did not provide a financial benefit. Now, Redgrid’s energy data software and IOEN protocol are managing the solar panel’s “virtual microgrid” and Solarminer platform in real time at the Rose Avenue complex, and will offer faster payback on investment in renewable energy assets. In addition, the implementation of the Solarminer in the development portfolio of more than 250 Kinfolk properties will encourage the adoption of renewable energy throughout the city, including electric vehicle (EV) infrastructure.

Bitcoin mining has been criticized for its growing carbon footprint and declining economic viability as energy prices rise. The costs associated with the infrastructure of electric vehicles and the electrification of other appliances have also increased. However, the adoption and awareness of Bitcoin mining is increasing rapidly. The energy costs associated with mining will only increase along with the demand for low-cost, high-performance clean energy solutions that are adaptable and scalable. Redgrid and IOEN’s Solarminer platform has begun its #followthesun journey
in sunny Venice, LA, early summer.

Brook Kennedy, Redgrid’s director of marketing, said:

“Solarminer is a sustainable bitcoin mining software that uses the excess clean energy generated from solar panels to extract bitcoins.”

Adam Bumpus, CEO of IOEN, added:

“Solarminer is a basic use case to demonstrate the value of the IOEN protocol. Specifically, decentralization, the real-time settlement of energy transactions at the community level that produce transferable value worldwide.

IOEN is a community-driven open source network for transforming power grids into faster, cleaner, smarter energy markets. The IOEN smart protocol is built on Holchain and shares the same secure, hyperscalable base.

Redgrid’s energy data platform, through the IOEN protocol, allows residential or commercial users to reduce their carbon footprint by using energy when there is more renewable energy on the grid. Redgrid technology transforms the built environment into a cooperative network of energy-consuming and energy-producing devices, creating the only energy marketplace that settles real-time transactions worldwide. Redgrid uses the IOEN protocol to provide your home with the smart city technology of the future.

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