Redgrid & IOEN Brings Solarminer to California
Solarminer is IOEN and Redgrid’s renewable energy solution to the energy problem of cryptocurrency mining. Los Angeles-based real estate developer Kinfolk Properties, in collaboration with IOEN and Redgrid, has integrated sustainable Bitcoin mining and clean energy infrastructure into a major condominium development in Venice Beach. Stay tuned for the latest information on the Solar Minor Campaign and the world surrounding solar energy.
Mining background
Empire State New York in the United States has recently passed a two-year freeze on a new cryptocurrency mining project that uses carbon-based fuels. Cryptocurrency mining is an energy-intensive process. Not all types of mining, but most mining operations around the world are not good for the environment. Bitcoin mining itself consumes the same amount of carbon-based electricity in a year as it does throughout Switzerland. The energy used to mine Bitcoin in Iceland now exceeds the energy used to power homes for a year. Many other governments have seized and legislated Bitcoin mining operations due to the extreme demand placed on their energy infrastructure. The magnitude of the environmental impact that crypto mining is currently creating makes daily other irreplaceable tools for wealth generation infeasible. This is the reason!
Proof of work
You know, we all know what cryptocurrencies are from afar. But who, what, and especially “how” cryptocurrencies do is still a mystery to many. Specifically, why does Bitcoin mining consume so much energy? To be technically decentralized and as transparent as possible, Bitcoin uses a proof-of-work algorithm to ensure that Bitcoin is “minted” to prevent it from being used twice. .. Mining (guessing a series of numbers) using a computer, creating a new block on the blockchain and receiving Bitcoin as a reward. This method provides a way for cryptocurrencies like Bitcoin to maintain a verifiable count of the number of coins. Limit the frequency with which new blocks are generated by making the string of numbers more difficult, depending on how quickly new blocks are added to the chain. Bitcoin mining is currently very popular, and as a result, more and more computers are mining in a proof-of-work manner, using more and more fossil fuel energy.Much more energy, as you can see below in this dataset created by the United Kingdom University of Cambridge Judge Business School:
Photons for positive change
Solar energy is spread throughout the energy infrastructure, but not fast enough. Solar infrastructure includes everything from solar panels to batteries. It will be the cheapest energy generation tool for the country at all stages of development. Solar energy needs to quintuple its contribution to global energy production in order for the world to reach its global “net-zero” greenhouse gas targets by 2030. We can reduce nearly 2% from the 6,970 TWh of solar energy required to reach our zero net goal. Not to mention the annual savings of over 115 million tons of carbon released into the atmosphere. Migrating all cryptocurrency mining to solar infrastructure can make significant progress towards this goal, especially if the infrastructure can generate surplus clean energy. A viable future for energy security, a stable environment, and the generation of crypto wealth will come from the sun.
IOEN and Redgrid’s Solarminer project is currently underway in Venice, Calif., Proving that cryptocurrency mining is 100% clean and can generate enough solar energy to reduce living costs. .. Click here to #followthesun with a solar miner in sunny California to see exactly how the IOEN and Redgrid teams are accelerating the future of clean energy from the rooftops of Venice.
About IOEN
IOEN is the next generation of digital energy management and optimization. IOEN tech enables interconnected virtual microgrid systems to facilitate transactions within and between local energy ecosystems, from appliance level to energy generation, storage and consumption.
We are the backbone of the new tokenized energy ecosystem, building a global clean energy ecosystem for each device wherever we are.
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