A device and systems for cooling hardware components is disclosed. The smart cold plate (CP) device includes a first inlet port for supplying a first coolant path, a second inlet port for supplying a second coolant path, and a valve for selectively controlling a flow of a coolant between the first and second inlet ports and an internal port, the internal port connecting the first and second inlet ports to a CP. The device also includes an external port connected to the CP for removing the coolant from the smart CP device and a connector through which power is supplied to the valve. Various cooling systems incorporating the smart CP device are disclosed.