Is this actually achievable?🤔
and now, we might even have a “crypto building.” At least that’s how a real estate project in Argentina, Next Pampa 2.0, has been referred to in some media. But what is a crypto building?
In this case, it can be described as a 24-floor"smart" building with a Bitcoin mining farm in its basement, the objective of which is to generate an income for the building's operations, allowing it to cover the cost of the edifice’s maintenance and upkeep —and savings its residents the costs of having to do so themselves. The building will also display different pieces of NFT art as decoration in its lobby.
But taking into account that Bitcoin mining profitability varies along with the cryptocurrency’s value , as well as the cost of energy, will living in a “crypto building” really be as cost-effective as its developers intend? Next Pampa 2.0 was created by Newlink Capital, an investment group in Argentina that owns Landium, the real estate agency that is commercializing what’s been called the first “crypto building” in the world.
Damian Lopo, Newlink Capital’s founder and Next Pampa 2.0’s main project developer, explained that the firm is well aware of Bitcoin’s volatility. To deal with this, the plan is to calculate an average price for the Bitcoin over the last 12 months and use that average price to scale the mining farm in a way that theoretically will allow the mining operation to cover 100% of the cost of the building’s expenses.
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