Next Pampa 2.0 will be the first “Crypto Building” in the world. There will be a bitcoin mining farm in the basement that will help pay for all the needs for maintaining a modern building. They also plan to show NFTs in the lobby and more. Is the real state project just trying to be “first in the world” in something? Or did the builders come up with something?
Construction of the crypto building will begin in Belgen, Buenos Aires, in the second quarter of 2022. It will have “more than 100 apartments, with 2, 3 or 4 bedrooms, many of which have already been sold” at a cost of about $ 120,000 for 2- room. Does that price give you a stake in the bitcoin mining operation as long as you keep the property in a crypto building? That’s how it sounds.
According to to Interesting Engineering, Next Pampa 2.0 can be described as a “smart” 24-storey building with a bitcoin mining farm in the basement, which aims to generate revenue for the building’s operation, allowing it to cover the cost of building construction. maintenance and upkeep – and saves its residents the cost of doing it themselves. ” It is worth noting that the crypto building “will also display different parts of NFT art as a decoration in its lobby”. So it’s not just a bitcoin project.
What about Bitcoin volatility?
To address the issue of instability, the publication consults with Damian Lop, lead developer of the Next Pampa 2.0 project. He knows what to do. “To address this, the plan is to calculate the average price for Bitcoin over the last 12 months and use that average price to scale the mining farm in a way that would theoretically allow the mining operation to cover 100% of the cost of building.”
Also, David Farías, CEO of Landium, the real estate agency behind Next Pampa 2.0, believes the bitcoin mining operation will generate more than the building needs. “The surplus could then be shared among the residents; a crypto building could end up “paying residents” for living in it. “It’s a way to reciprocate to our customers,” said Landium’s CEO.
BTC price chart for 06/02/2022 on Eightcap | Source: BTC/USD on TradingView.com
Solar panels crypto building
In some respects, Argentina is a good ground for a crypto building. For example, in the capital, the government subsidizes energy, so it is cheap. In some other respects, the bitcoin mining strategy could prove wrong. “There are currently no laws on cryptocurrency mining, but Damián Lopo does not rule out that possibility.” Argentina recently signed an agreement with the IMF in which they promised to slow down the adoption of cryptocurrencies in the country.
On the other hand, there are ESG risks. Some people think that bitcoin is not worth the effort and that network participants should not be allowed to use electricity. However, they ignore the subtle connection that exists between bitcoin and green energy. They always appear hand in hand.
In this case, “Damián Lopo expects Next Pampa 2.0 costs to be up to 50% lower – as the building will be fully powered by solar panels, from LED lights in common areas to preheating systems for water heating. which residents will use. ” Green energy will run it all plus bitcoin mining. Great, but what is the essential difference between a crypto building and a normal building with bitcoin home miners among the tenants?
Featured Image by Nestor Barbitta on Unsplash | Charts by TradingView