A new building called Pampa 2.0 would be the first of its kind to feature a bitcoin mining facility in Argentina.
The new apartment complex in the exclusive neighborhood of Belgrano in Buenos Aires, Argentina, will launch this project with the idea of helping its residents to “earn by living” in their apartments.
This building will be designed to have 9 floors and 32 apartments in total, plus a restaurant on the first floor.
As estimated by the project developers, the investment in this venture will be around 10 to 15 million dollars and will be led by the architectural firm MCL.
The company behind the project, Next Living, is advertising the vision as “eco-friendly, smart living, crypto building” which reveals the rather simple profit intentions underlying the development.
A Bitcoiner would consider smart living a life on a large ranch or inside an off-grid citadel. Pampa 2.0 would rather fall into the category “peak fiat,” selling cheaply-developed property with the use of modern buzzwords like “eco-friendly,” “smart living” and “crypto.”
The particularity of Pampa 2.0 is that it will be equipped with “between five and ten bitcoin mining machines.” These machines will be operated by a company that will take a percentage of the profits in exchange.
To account for the volatility of BTC, they plan to calculate an average price for bitcoin over a 12-month period and use this price as the basis for calculations that would allow mining operations to finance 100% of the cost of the building.
The goal is to be able to generate enough income from mining to cover living expenses and even exceed this amount to leave the residents with a profit.
According to estimates, the price of a two-bedroom apartment in Pampa 2.0 would be around USD 120,000, taking into account that about USD 2500 per square meter would be charged.
The intellectual authors of the project, through a promotional video, described the creation of a “cryptographic building” and showed a digital representation of a gold coin engraved with the bitcoin logo.
According to the developer of the project, Damian Lopo, due to the innovation that the building will have in terms of lighting, insulation, and solar panels, the cost of living in one of these apartments would be up to 60% cheaper than in rival developments.
In Lopo’s words, “I think about innovation all the time, but you also have to have the right timing. It’s a fine line: it’s just as bad to start a company too early as it is to start it too late.”
Time will tell if the idea of adding bitcoin mining farms to sell luxury apartments will close the deal easily. The benefits of using bitcoin mining heat for temperature management are most efficient when temperatures are cold, which depends on the regional climate and seasons.
We look forward to observe the development and conclude that this is good for Bitcoin.