The Bitcoin mining industry has come a long way since the days when block rewards were 25 or even 50 BTC, and individuals had a high chance of success using just a single PC to solve blockchain “puzzles.” Today, the competition to mine the next block is intense, with large mining enterprises predominantly dominating the field.
The continuous development of hardware has raised Bitcoin mining difficulty to an all-time high, especially following the recent 2024 halving, which reduced the block reward to just 3.125 BTC. As a result, many individual miners have found themselves struggling, with the margin between their expenses and earnings shrinking significantly. The accessibility of cheaper electricity resources has become a decisive factor for remaining profitable, giving an additional advantage to companies capable of moving their infrastructure around the globe in search of more affordable power.
GoMining, a Bitcoin mining operator managing nine cutting-edge data centers worldwide, is a rare instance of a mining giant focusing on the accessibility of the mining industry for individual investors and enthusiasts. The unique solution introduced by the company is built upon the Liquid Bitcoin Hashrate vision—an innovative approach aimed at tokenizing hashrate. This allows NFT holders to share real Bitcoin mining power, freeing them from the numerous challenges typically associated with entering the mining process.
The Liquid Bitcoin Hashrate protocol
The idea of tokenizing the computing power output of physical mining equipment is driven by the industry’s constantly growing entry thresholds, which now prevent many Bitcoin supporters from mining BTC on their own. Given the high level of competition, setting up a personal mining farm has become an expensive endeavor, requiring not only technical expertise but also consideration of factors like local government regulations and access to cheaper energy sources.
As a result, the combined financial and intangible efforts required for an efficient start are becoming irrational or even unattainable for individuals with limited funds. GoMining’s idea allows individuals to bypass the difficulties of setting up and maintaining physical mining equipment by directly owning the computing power utilized for mining Bitcoin.
In short, GoMining NFTs, also known as digital or NFT miners, provide a smart and scalable solution by being backed with a specific amount of terahashes, granting holders access to daily mining rewards paid out in BTC. As a result, the industry’s entry threshold is lowered for GoMining clients to just 1 TH/s—a significantly smaller output than that of any existing ASIC one can buy—while offering the ability to own an unlimited amount of BTC mining power, which can be increased anytime with just a few clicks.
How does BTC mining via NFTs work
The typical user’s journey starts with creating an NFT miner, where they can select the initial utility attributes for their first item. The two main attributes are computing power, measured in TH/s, and energy efficiency, measured in W/TH. Both of these attributes determine the reward output of the created miner, including the maintenance fee, which is collected daily to support the infrastructure backing the NFT.
NFT Miner creation dashboard. Source: GoMining
Alternatively, users can purchase an NFT on a secondary market, either on the GoMining platform or external marketplaces like Getgems or OpenSea. In both cases, the initial amount of computing power and energy efficiency can be upgraded at any time by purchasing additional terahashes or optimizing the energy consumption of a digital miner.
Once purchased, the NFT miner will start earning daily mining rewards, which can be delivered to the in-app virtual wallet or any external BTC-friendly wallet of the user’s choice. The basic flow doesn’t require any additional effort, making holding a GoMining NFT a considerable alternative for those seeking a passive income source without excessive investments or overcomplications.
As a more advanced and engaging alternative, the Pool mining mechanics are available to holders owning at least 10 TH/s, allowing users to join virtual mining pools competing for higher rewards. Although the rewards are not guaranteed, as they are for those choosing Solo mining mode, they are delivered to pool members who succeed in mining a block. This mechanic allows users to experience real Bitcoin mining and connect with other enthusiasts sharing the same pool.
GOMINING Token & veTokenomics
The entire GoMining ecosystem is based on a cornerstone: the GOMINING utility token, which serves multiple purposes beyond covering maintenance fees and enabling in-app NFT purchases and upgrades.
According to the unique deflationary-based token model, a portion of GOMINING’s supply collected for electricity payments undergoes weekly burn and mint cycles. In these cycles, all gathered tokens are burned and then minted back in a lesser amount. The amount of minted tokens is defined by the ratio of the ongoing epoch and cycle. Currently, the platform mints back 83% of the weekly collected amount.
The burn & mint process aims to increase the asset’s value by gradually decreasing the circulating supply. With an initial GOMINING supply of 436,915,240 tokens, the ecosystem is targeting a mid-term goal of reducing this to 100,000,000 tokens. Following the statistics provided by the platform, approximately 350,000 tokens are currently paid for maintenance daily, equating to a value of around $100,000 daily and $3 million monthly directed to burning.
GOMINING Burn & Mint process. Source: GoMining
The newly minted GOMINING tokens are distributed among service providers (65% of the newly generated supply), while the remaining portion is allocated to GOMINING stakers, reward pools, and the team. Following this logic, each burn and mint cycle eliminates a small part of the initial supply, encouraging constant token price growth.
Another important criterion stimulating the ongoing GOMINING price growth is the constantly growing number of NFT holders. The logic is simple: the more NFTs and terahashes owned, the greater the demand for GOMINING. Combined with a constantly decreasing token supply, this increasing demand is expected to push the token price up in the mid- and long-term.
GOMINING token 365 days price chart. Source: CoinMarketCap
Currently, GOMINING is available on Ethereum, Binance Smart Chain (BSC), and The Open Network chains from numerous major CEXes and DEXes, including MEXC, Gate.io, Uniswap, and more. As seen from the CoinMarketCap GOMINING price chart, the token price has risen by almost 185% in the last 356 days, establishing a strong positive trend for the future.
The technical background
The community’s trust and support of the GoMining model are reinforced not only by a well-thought-out ecosystem design but also by a solid technical foundation. With nine data centers boasting a total power capacity of 350 MW, GoMining is currently developing several new infrastructure hubs in the MENA and North Africa regions, according to recent statements from Mark Zalan, GoMining’s CEO.
The ongoing ecosystem growth is achieved through building a solid network of partnerships in both community and technical fields. The long list of tier-one collaborations includes Bitcoin mining industry leaders such as Binance Pool, Bitmain, and more. The GoMining team is actively working on scaling their Bitcoin mining services and providing an intuitive gateway for communities of other blockchains and prominent projects’ audiences. Recent collaborations with The Open Network (TON) and Trust Wallet serve as evidence of this effort.
Another proof of the project’s quality is the growing attention from VC funds and institutional investors. For instance, in May, Bitscale Capital announced a $3 million deal with GoMining, which involved gaining equity in both GOMINING tokens and NFTs.
From an NFT perspective, these efforts have already resulted in onboarding over 65,000 unique NFT holders, who collectively own more than 135,000 digital miners with a total output of around 4.5 million terahashes. Following the milestones outlined in the GoMining roadmap, the project aims to reach a total infrastructure output of 25,000,000 TH/s by Q3 2025, onboarding even more new NFT holders in the following years.
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