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One might have heard about data centers that redirect the waste heat from their facilities to nearby residential and commercial places. Tech giant IBM successfully runs similar data facilities in Switzerland and the USA. While the Swiss one provides heat to a nearby swimming pool, the American one allocates heat to produce hot water, which eventually powers a nearby office building’s heating system.
Now the same approach is coming to the world of heat-generating cryptocurrency mining.
Estate Coin, a newly launched startup, has come up with an innovative investment proposal. It introduces the first-of-its-kind symbiosis of real estate construction and crypto mining technologies. Together, they assist one another in creating a robust solution for minting cryptocurrencies and recycle the heat generated from mining for the property’s heating requirements.
In its recently published whitepaper, Estate Coin discusses every aspect of their proposal in great detail. The project is founded by a real estate developing company called SBG, Ltd., which has been in business for more than 13 years. They started working on Estate Coin soon after discovering the two most annoying limitations of crypto mining: high power consumption and large heat dissipation during operation.
It is so evident heat loss during the mining process can be recycled in order to mitigate investment risks and costs associated with the crypto mining. SBG is the one which saw the elephant in the room; it explored the regions in Russian where the cost of electricity is much lower and is now months away from building their as well as the industry’s first residential-building-cum-mining-farm.
Fundraising and Deliverables
SBG has proposed to raise a total of $1 million to build a house and mining farm within a 1388 square meter area.
“The house has 3 floors, 41 apartments,” stated their whitepaper. “The heat consumption of the house is 200 kW (heat energy). Energy consumption of the farm is 180 kW (electric energy). The productivity of the farm is 1500 TH/s.”
In wake of imminent costs, SBG has decided to launch an ICO round to fund the development of their housing-cum-mining project. During the ICO round, which started on September 1, 2017, the company will make available 1,100,000 Estate Coin-tokens for sale. Subsequently, SBG will also launch a buyback plan, which will allow Estate Coin holders to sell back their tokens in public or back to SBG.
In the meantime, Estate Coin holders will have the opportunity to stay invested in a housing and mining project at the same time, meaning more returns than any other crypto-based investment opportunity. SBG added:
“All participants of the project will benefit: investors receive additional income from their investments, the developer receives financing to build up the portfolio of projects, the owners of the constructed housing optimize the costs of heating their apartments.”
