Bitcoin-branded building in downtown Windsor scores high on energy efficiency

Downtown Windsor, Ont., might not sound like a place for a mine, but it’s now home to the Bitcoin Building — where a series of computers mine bitcoin and also create a supply of heat.

The apartments were built in a renovated building in Pellisier Street.

A groundbreaking ceremony was held in the building on Tuesday.

Ray Blanchard, the building’s owner, said the idea to use the digital currency to tag the building came after they signed up for the city’s Community Improvement Plan, which provides grants to people who want to improve the downtown core.

He said he wanted to take advantage of Leadership in Energy and Environmental Design (LEED) certification, an environmental rating system for buildings. That would freeze his property taxes for 10 years.

“We’re actually going for LEED Gold certification which will mean we’ll be in the top quarter of one percent of all buildings in North America for energy efficiency,” he said.

To achieve this, he put 180 solar panels on the roof to power the building, and he said that with the amount of power they will generate, he can also power the bitcoin miners.

“We’re looking at probably getting about twice the electricity from solar that the building will actually require,” he said.

“We decided to deploy some bitcoin miners because they are quite electricity intensive.”

The heat generated by computers mining the cryptocurrency will also be used to heat parts of the building.

“Quite a bit of interest”

The apartments, which are fully furnished, are let for short and medium term from later this month. Suites will cost a little more than a hotel, he says, and monthly rates will run anywhere from $3,000 to $5,000.

“We’ve had quite a bit of interest so far,” Blanchard said.

He said electrical inspections and fire checks still need to happen, but they hope to have occupancy in the building by mid-November.

“We haven’t really even started marketing,” he said, adding that clients will be able to pay for their apartments with bitcoin.

Incoming department 3 gr. Renaldo Agostino was among those present for the ribbon cutting on Tuesday.

“I DJed here 20 years ago when it was a bar, when it was an after-hours nightclub and to see it now revitalized to bring life to downtown Windsor,” he said.

“What else can you say, it’s incredible.”