Verakari Crypto Mines to Utilize CPower for Distributed Energy Resource Optimization

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May 23, 2022, 08:00 ET

Partnership Implements CPower's EnerWise^™ Site Optimization, Allowing New Crypto Customer to Respond to Multiple Grid Needs with Clean Energy Sources While Maximizing the Site's Energy Savings

DALLAS, May 23, 2022 /PRNewswire/ -- Today at PowerGen International 2022, leading, national energy solutions provider CPower Energy Management ("CPower") announced momentum following its recent EnerWise^TM Site Optimization launch, with the successful implementation of new crypto mining customer, Verakari, a cryptocurrency hosting pioneer offering discerning enterprise miners secure, high-tech, cost-effective facilities in strategic locations around the globe.

CPower's EnerWise Site Optimization is an artificial intelligence-powered engine that helps Distributed Energy Resource (DER) owners and developers manage and monetize all of their DERs across multiple energy markets and utility programs simultaneously by analyzing the latest market and grid conditions.

When integrated with Verakari's crypto mine design, including network components, electrical infrastructure, custom-built software elements, custom demand response hardware components, and innovative operations protocols, CPower will help the company's Pennsylvania crypto mining site better align with price, demand, and marginal emissions signals in PJM Interconnection, the largest grid operator in the U.S. As a result, Verakari will reduce its energy costs while helping to create a more reliable and sustainable grid.

Verakari's ability to rapidly curtail load through CPower's EnerWise Site Optimization allows the grid to utilize the Verakari site like a reverse battery anytime the region needs more power. Through CPower's EnerWise Site Optimization, Verakari will achieve grid revenue and on-bill savings as the Verakari site redirects carbon free power to help PJM reduce its reliance on fossil fuel resources.

"Verakari is always looking for ways to enable a cleaner and more reliable grid for ourselves and our local community while limiting interruption at our site. Working with CPower means getting paid for becoming a flexible power use site during a limited number of peak or critical hours across the year to balance the grid while advancing our sustainability initiatives," said Tim Sandau, CEO at Verakari. "CPower's AI program is easily adaptable, making it a natural support solution for our crypto mining efforts and mobile data center deployments across the country."

Verakari is just one of CPower's crypto mining customers. Across the U.S., CPower manages approximately 318 MW of DERs for data centers and more than 5.3 GW of DERs in total for commercial and industrial businesses, including big box retail, commercial real estate, manufacturing, production and industrial processing, government, healthcare, and education.

"With the U.S. now hosting more crypto companies than any other country in the world, we're seeing a concerted effort from this industry to use flexible load curtailment and behind-the-meter assets to keep costs down and provide key services to the grid, with the holistic goal of focusing on their emissions reduction and other ESG initiatives," said Glenn Bogarde, senior vice president – Sales, CPower. "We look forward to helping miners like Verakari and other energy-intensive industries get the most out of their DERs through the real-time intelligence and automation of EnerWise Site Optimization."

Energy Thought Leaders Showcase Opportunities to Unlock Value of Distributed Generation, DERs at PowerGen International

CPower experts will be speaking at PowerGen International to highlight DER monetization and resiliency strategies:

Michael Mindell, Senior Account Executive – National, CPower: "One Year Later: Lessons Learned from Winter Storm Uri and How Demand-side Solutions Can Help Address Remaining Vulnerabilities" on Tuesday, May 24 @ 10:30am CT (more info here).
Millie Knowlton, Director – Distributed Energy, CPower: "Preparing for Energy Markets with Automated Optimization of Customer Energy Assets" on Wednesday, May 25 @ 9:30am CT (more info here).

To learn more, please visit CPower at PowerGen International Booth # 3825 from May 23-25 at the Kay Bailey Hutchison Convention Center in Dallas.

About CPower Energy Management

CPower Energy Management is the leading, national energy solutions provider guiding customers towards a clean and dependable energy future. We manage more than 5.3 GW of customer capacity across the U.S., forming virtual power plants that are good for the grid and great for the community. CPower maximizes the value of our customers' electricity loads, facility assets and distributed energy resources while delivering flexibility, capacity and other ancillary services to the grid. With more than two decades of experience, we've grown to offer more than 55 local energy programs, partnering with grid operators and utilities to serve more than 12,000 sites, delivering approximately 286,000 metric tons of CO₂ reductions in 2021 alone. CPower is based in Baltimore, Maryland and is owned by LS Power, a development, investment and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergymanagement.com.

About Verakari
Verakari is a cryptocurrency mining hosting pioneer offering discerning enterprise miners secure, high-tech, cost-effective facilities in strategic locations around the globe. The company's state-of-the-art datacenters are turn-key, purpose-built for security and durability, and outfitted with built-in innovative proprietary software. With over a hundred thousand miners deployed, Verakari was built by some of the most experienced miners in North America, an elite team of trusted veteran crypto industry leaders from some of the world's biggest brands. For more information please visit www.verakari.com or contact us at [email protected].

SOURCE CPower Energy Management