GoMining Builds a Sustainable Ecosystem to Reshape Bitcoin Mining Accessibility

The Bitcoin mining industry has evolved significantly from its early days when individual miners could profitably mine using just a single PC. Today, intense competition and the 2024 halving, which reduced block rewards to 3.125 BTC, have made mining more challenging and, as expected, far less affordable, especially for individual miners with outdated equipment or high electricity costs.

Despite today's BTC mining market being primarily dominated by larger pools and companies, GoMining strives to create a gateway for individuals looking to access the benefits of mining the number one cryptocurrency.

GoMining’s Innovative Approach

GoMining, a Bitcoin mining operator with nine advanced data centers globally, aims to make mining accessible to individual investors. Their innovative Liquid Bitcoin Hashrate approach serves for hashrate tokenization, enabling users to benefit from owning real Bitcoin mining power shares attached to NFTs (digital miners), thus avoiding the complexities of setting up and maintaining physical equipment themselves.

Various digital miners on GoMining Marketplace. Source: GoMining

To start mining operations from scratch, users can create digital miners with attributes like computing power (TH/s) and energy efficiency (W/TH) or purchase them on secondary markets, including Getgems and OpenSea. These NFTs begin earning daily mining rewards paid in BTC, which can be withdrawn to in-app or external wallets. Users can upgrade their NFTs at any time with just a few clicks, enhancing their computing power and energy efficiency to increase rewards.

The mining rewards are delivered daily, either to the in-platform virtual wallet or any external BTC storage chosen by the holders. All mining expenses are limited to covering daily electricity fees for the amount of power consumed by the digital miner. By paying with GOMINING, the ecosystem's native token, users can enjoy an additional 10% electricity discount, on top of one of the market's lowest electricity prices of only $0.05 per kWh.

The GOMINING Token & veTokenomics

The GOMINING token is central to the GoMining ecosystem, used for maintenance fees and digital miners’ purchases and upgrades. Its unique deflationary token model involves weekly burn and mint cycles, reducing the circulating supply to increase token value. With an initial supply of 436,915,240 tokens, the ecosystem aims to reduce this to 100,000,000 tokens. Currently, approximately 350,000 tokens are burned daily, translating to about $3 million monthly.

GOMINING Burn & Mint process. Source: GoMining

The newly minted tokens are distributed among service providers, stakers, reward pools, and the team, contributing to sustained token price growth. With the number of NFT holders surpassing 70,000, there is a robust and sustainable demand for GOMINING in the market.

Technical Foundation and Partnerships

GoMining boasts a robust technical foundation anchored by nine data centers with a combined power capacity of 350 MW. The company is actively expanding its infrastructure across the MENA and North Africa regions. This growth is fueled by strategic partnerships with industry giants like Binance Pool and Bitmain, alongside collaborations with The Open Network (TON) and Trust Wallet.

The project has also caught the attention of VC funds and institutional investors, including a recent $3 million investment from Bitscale Capital in May. With over 142,000 digital miners collectively generating around 4.5 million terahashes, GoMining is on track to scale its infrastructure to 25,000,000 TH/s by Q3 2025.

Conclusion

As Bitcoin remains a pivotal force in the cryptocurrency world, the demand for mining operations is set to rise, drawing in more crypto enthusiasts.

While individual mining is becoming more and more costly and complex, platforms like GoMining offer a viable and advantageous alternative for those aiming to contribute to Bitcoin's infrastructure and profit from its growth.

This post is commissioned by GoMining and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.