Next Pampa 2.0 will be the world’s first “crypto building”. In the basement, there will be a bitcoin mining farm that will help pay for all the upkeep the modern building needs. They are also planning to show NFTs in the lobby and what not. Is the actual state project trying to be “world first” in something? Or are builders doing something here?
Construction of the Crypto Building will begin in Q2 2022 in Belgrano, Buenos Aires. It will have “over 100 apartments, with either 2, 3, or 4 bedrooms, and many of them have already been sold” for a 2-bedroom one at around $120K. As long as you own the asset in the crypto building, does that price get you part of the bitcoin mining operation? It seems like.
according interesting engineering, “Next Pampa 2.0” can be described as a 24-storey “smart” building with a bitcoin mining farm in its basement, the purpose of which is to generate income for the operation of the building, allowing it to reduce the cost of the building. Allows to cover. upkeep and maintenance—and saves its residents the costs of doing so themselves.” It is worth noting that the crypto building will also display “various pieces of NFT art as decorations in its lobby.” So, it is not just a bitcoin project.
What about the volatility of bitcoin?
To resolve the instability issue, the publication Next consulted with Pampa 2.0’s lead project developer, Damien Lopo. He knows what to do. “To combat this, the plan is to calculate the average price for bitcoin over the past 12 months and use that average price to scale the mining farm in a way that theoretically costs the mining operation 100% of the cost. be allowed to cover the building expenses.”
Furthermore, David Farias, CEO of Landium, the real estate agency behind Next Pampa 2.0, believes that bitcoin mining operations will generate more than the building needs. “The surplus could then be distributed among the residents; Crypto could end up “paying residents” to live in a building. “It’s a way to give back to our customers,” said Landium’s CEO.
BTC price chart for 06/02/2022 on Eightcap | Source: BTC/USD on TradingView.com
crypto building solar panels
In some aspects, Argentina is a good soil for crypto building. For example, in the capital, the government subsidizes energy, and is thus cheap. In some other aspects, the bitcoin mining strategy can be proven wrong. “There are currently no laws regarding crypto mining, but Damien Lopo does not rule out that possibility”. Argentina recently signed a deal with the IMF in which they promised to slow down crypto adoption in the country.
On the other hand, there are ESG risks. Some people think that bitcoin is not worth the effort and that participants in the network should not be allowed to use electricity. However, they ignore the subtle relationship that exists between bitcoin and green energy. They are always seen hand in hand.
In this case, “Damien Lopo expects the Next Pampa 2.0 to cost up to 50% less – as the building will be powered entirely by solar panels, from LED lights in common spaces to pre-heated water to water. Up to the heating system, which will be used by the residents.” Green energy will power all of that as well as power bitcoin mining. Great, but, what is the fundamental difference between a crypto building and a normal building with bitcoin home miners between tenants?
Featured Image by Nestor Barbitta on Unsplash | Charts by TradingView
