This new short-term rental building in downtown Windsor is heated by bitcoin mining

Downtown Windsor, Ont., may not sound like a place for a mine, but it is now home to the Bitcoin Building — where a number of computers are mining bitcoin and creating a supply of heat as well.

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

A ribbon-cutting ceremony was held at the building Tuesday.

Ray Blanchard, the building’s owner, said the idea of using the digital currency to brand the building came after they had signed up for the city’s Community Improvement Plan, which provides grants for people looking to improve the downtown core.

He said that 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 would mean we’d be in the top quarter of one per cent 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 could also power the bitcoin miners. 

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

“We decided to put some bitcoin miners in because they’re pretty intensive for electricity.” 

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 being rented on a short- and medium-term basis beginning later this month. Suites would cost a little more than a hotel, he says, and monthly rates would run anywhere from $3,000 to $5,000.

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

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

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

Incoming Ward 3 Coun. Renaldo Agostino was among those in attendance 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.”