The installation consists of ten bitcoin miners and was premiered in the cellar of a council building in the City of Zug*. The task of the miners is to earn enough cryptocurrency to buy one square meter of land at the lakeside in Zug, which belongs to the most prestigious land plots in the area. This, at the time of writing, would have amounted to around BTC 1.43155 or CHF 8000.-.
While the piece is symbolically eating up the city, it also references the city’s efforts to transform itself from a dusty tax haven into the worlds new blockchain capital. The heat and noise produced by the machines show the ugly underbelly of the bitcoin blockchain and give a physically impressive, visceral experience of the immense amounts of electricity required to keep bitcoin technology alive. The work was premiered 2018 at the Illuminate Festival in Zug.
Unfortunately, the installation never mined enough BTC to actually buy the plot of land.