Since the good old days when anyone could successfully mine Bitcoin on their PCs are long gone, the entire industry has undergone a significant transformation. Growing competition from larger mining entities has gradually made individual mining more challenging, even for those who managed to stay afloat.

Another significant factor that dramatically altered the Bitcoin mining landscape was the 2024 halving. The block reward was cut to 3.125 BTC, raising the question of mining expense optimization for everyone involved. This had the most serious impact on individual miners, who are struggling to compete with market giants in terms of technology and logistics. One clear example is electricity prices, which are significantly cheaper in some regions, especially for large mining companies that can secure even better rates through long-term contracts.

GoMining is a rare example of a Bitcoin mining industry insider that goes against the trend of decreasing accessibility of mining operations for smaller players like individual miners and crypto enthusiasts. While operating nine top-notch data centers around the globe, the company has introduced a unique vision of hashrate tokenization to significantly boost BTC mining adoption and lower the industry’s entry thresholds for everyone. Today, we will take a deeper look at the GoMining platform and how it works.

What is GoMining and how does BTC mining with NFTs work

As already mentioned, GoMining is a well-known brand for those familiar with the mining industry, having operated in the market for over seven years. During this time, GoMining has grown into one of the biggest brands in the field, building a solid infrastructure of numerous data centers with a total power capacity of 350 MW, strategically located around the world.

GoMining key technical metrics. Source: GoMining

These substantial computing resources form a sustainable foundation for the Liquid Bitcoin Hashrate (LBH) protocol—an innovative vision introduced by GoMining to tokenize its massive computing power output, making it tradable, shareable, and scalable. Their primary product—digital miners, which are branded NFTs backed by shares of real Bitcoin mining power—represents a significant step towards a simpler and more efficient approach to BTC mining for individuals.

The idea works as follows: owning hashrate instead of the equipment behind it significantly simplifies entry by lowering the thresholds for the minimum amount of hashrate, investments, and required expertise. With GoMining digital miners, users can start earning mining rewards from day one, even with only 1 terahash, which is considerably less than the output of any existing physical mining device. In other words, GoMining clients are not limited by the characteristics or operability of specific miners. With an impressive average uptime of 99% achieved by GoMining’s data center service team, the platform guarantees stable, round-the-clock performance of their digital products.

Scalability is another unique benefit accessed thanks to GoMining’s vision. With their digital miners, holders can instantly purchase additional computing power whenever they want, with no actual upper limit. The entire process takes only several minutes, which is weeks and months faster than purchasing and installing a new physical mining device.

Lastly, GoMining clients benefit from significant savings on electricity, accessing the market’s most advantageous price of only $0.05 per kWh, which can be decreased further for those covering the electricity fees in GOMINING, the platform’s native token.

How to Start Mining with NFTs

To start earning with GoMining, all you need to do is purchase a digital miner on the platform or any external NFT marketplace, including OpenSea or Getgems. Alternatively, users can generate their own digital miner and preset its starting attributes—the amount of computing power (measured in TH/s) and energy efficiency (measured in W/TH). In both scenarios, mining rewards become available from day one, calculated proportionally to the digital miner’s characteristics.

NFT Miner creation dashboard. Source: GoMining

GoMining allows users to upgrade their digital miners’ attributes by enhancing power and energy efficiency. This increases daily mining rewards and reduces electricity costs. This not only showcases GoMining’s innovation but also makes it extremely user-friendly, requiring only a few clicks to make these adjustments. Essentially, GoMining provides users with the flexibility to adapt to changing market conditions, effortlessly maximize their mining potential, and maintain a focus on mining efficiency. The convenient Bitcoin mining calculator helps users make smart and efficient decisions based on historical data and targeted Bitcoin prices.

Mining rewards are shipped daily to the virtual Bitcoin wallet on the GoMining platform. These funds can be manually transferred to any external BTC wallet or automatically sent whenever they reach the amount chosen by the user in the account settings. Additionally, holders must cover the electricity consumed by their digital miners, which can be paid either in BTC or in GOMINING, enabling an additional 10% discount.

Not only are the Bitcoin rewards easily cashed out of the platform, but GoMining NFTs can also be transferred and sold if the holder’s plans change. Once a miner is created, it exists virtually on the platform. However, it can be minted on the Ethereum (ETH) or Binance Smart Chain (BSC) networks, allowing it to be transferred to any external wallet or NFT marketplace.

The GOMINING token & VeTokenomics

Virtual miners aren’t the only way to earn with GoMining. The ecosystem’s native token, GOMINING, is another promising product with significant utility within the platform. The GOMINING token is used for internal payments like electricity fees, purchasing, and upgrading NFTs, and more. Another valuable utility is staking, which offers lock periods ranging from one week to four years. According to GoMining’s internal data, about 27% of the circulating supply is currently locked for an average period of two years with an average APR of approximately 22%.

Diving deeper into the GOMINING token model, it’s worth mentioning the deflationary approach built into the project’s tokenomics. In simple terms, a portion of GOMINING’s supply collected for electricity payments undergoes weekly burn and mint cycles. During these cycles, all gathered tokens are burned and then minted back in a smaller 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.

GOMINING Burn & Mint process. Source: GoMining

The burn and 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. According to the platform’s statistics, approximately 350,000 tokens are currently paid for maintenance daily, equating to around $100,000 daily and $3 million monthly directed to burning.

The long-term token price strategy relies on constant token demand growth, driven by the sale of more digital miners and their associated terahashes. According to GoMining insights, over 65% of total electricity fees are currently paid with GOMINING tokens, demonstrating significant potential for increased buying pressure. Meanwhile, as the circulating supply decreases with each burn and mint cycle, the resulting scarcity could potentially boost a bullish scenario.

Reputation & Trust

Speaking of the reputation, GoMining has proven itself as a platform trusted by clients and mining industry leaders like Binance Pool, Bitmain, and more. With an excellent security score from Certik, GoMining stands out not only as a convenient option for those looking to start Bitcoin mining quickly but also as a truly safe and transparent product.

From an NFT perspective, these efforts have already resulted in onboarding over 69,000 unique NFT holders, who collectively own more than 140,000 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, bringing even more new NFT holders on board in the following years.

The growing client interest in GoMining is accompanied by attention from institutional investors and venture capitalists. The most recent example is a $3 million investment by Bitscale Capital in both digital miners and GOMINING tokens. Additionally, GoMining actively collaborates with top-tier crypto projects such as The Open Network (TON) and Trust Wallet, showcasing their expanding influence and credibility in the industry.

Conclusion

Although competition within the Bitcoin mining industry is constantly increasing, GoMining stands out as a unique platform that goes against the general trend by keeping its doors open for smaller miners and crypto enthusiasts. By combining their unique Liquid Bitcoin Hashrate approach with a strong focus on convenience and usability, GoMining is an excellent option for those seeking earning opportunities but wary of crypto market volatility and high-risk tools like margin trading.

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