Digital bitcoin miner GoMining expands to Solana ahead of NFTs launching on Magic Eden
Quick Take
- GoMining, which offers retail users a way to earn BTC rewards through the tokenization of actual bitcoin mining hashrate, is adding Solana functionality.
- Expanding to Solana will allow GoMining’s utility token to be traded on Solana DEXs.
GoMining, which offers retail users a way to earn bitcoin rewards through tokenizing actual bitcoin mining hashrate, is expanding to Solana.
Primarily, the platform's GOMINING utility token is adding Solana functionality ahead of launching their NFTs on Magic Eden later this month, the company said on Tuesday. GoMining's token will also "become tradable on Solana DEXs as an SPL token," the company added.
"Solana’s ecosystem is ideal for a broader crypto audience to user-friendly Bitcoin mining," GoMining CEO Mark Zalan said in a statement. “Bitcoin is a foundational part of the crypto ecosystem, and everyone should have access to mining it as part of their crypto exposure—no matter what blockchain they prefer."
GoMining has tokenized hashrate, a measure of the computational power used in mining, to make earning BTC from bitcoin mining capacity accessible to people who cannot afford to invest directly into physical mining operations. Users acquire GoMining NFTs, tied to actual hashrate, and then have the opportunity to earn BTC rewards, the company said.
Owners of GoMining NFTs can invest in enhancing the performance of their digital miners or sell them to other users. According to GoMining's website, nearly 216,000 mining NFTs have been sold.
"Each digital miner comes with two key parameters: power (TH/s) and energy efficiency (kW/TH), enabling seamless participation in Bitcoin mining," according to a statement. The company says it has 350MW of mining capacity, including installations in Texas.
GoMining's token has a market cap of over $200 million, according to The Block Price Page.
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