Cheesesteaks and Crypto Mining?

Source: Thomas Koloski

On this site I love to explore deals involving real estate and purchasing through cryptocurrency. Although this is not a blog about a house that was bought with crypto, how about a house that comes with equipment to mine crypto? Here is 835 N. 42nd Street in the Belmont neighborhood of Philadelphia, about five minutes west of the zoo. The 3 bed, 1.5 bath home is 1250 square feet and built all the way back in 1925. It's been fully renovated and has a nice backyard space.

Listing Courtesy of: Mark Masih (Listing Agent, Compass Pennsylvania, LLC).

But let's be honest, we are here to talk about crypto, and the feature that matters the most to us is the mining rig. The MLS listing states that this house comes with the "world's first crypto fixture". The property owner mines Helium, which is "a global, distributed network of Hotspots that create public, long-range wireless coverage for Internet of Things (IoT) devices. Hotspots mine and are rewarded in HNT, the native cryptocurrency of the Helium blockchain." Furthermore, Helium is a decentralized machine network powered by an open source, public blockchain. The network is created by gateways who also double as miners on our network.

The listing agent was interviewed and said the house mines about $2.75 per day worth of Helium, while the hotspot itself costs roughly $1.50 per month of electricity, easily turning a nice, though small, profit for the new buyer.

Listing Courtesy of: Mark Masih (Listing Agent, Compass Pennsylvania, LLC).

Beyond the house itself, the homeowner is also offering 30 days of free consulting on general cryptocurrency, how to safeguard your crypto assets, how to use exchanges, what transaction fees are, and of course, how to use and earn with the miner. Think of it as a boot camp to start earning HNT.

Mining Equipment Source: Helium.com

The city of Philadelphia seemingly wants to embrace cryptocurrency, citing the recent success of CityCoins, specifically in Miami. Mark Wheeler, the Chief Information Officer for the city, tweeted "Philly is ready for CityCoins". Mayor Jim Keeney has given the green light to explore them, it's just a matter of whether it will be the right fit for Philadelphia.

Currently this house is still on the market, waiting for the right buyer. HNT sits at a market cap of a little over $2.1 billion and over 600,000 hotspots.

Disclaimer: Nothing in this article should be considered investment advice. Readers should do their own research (DYOR).

Joe Steele
In addition to investing in and selling real estate, Joe is also a crypto investor, running a blog and YouTube Channel, “Crypto and the House”, focusing on all things real estate and crypto.
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