How GoMining helps users win the mining arms race

You can pay the ever-rising entry cost, or you can take this mining operation’s approach and buy fractional shares of compute power

A new, state-of-the-art mining rig could set you back $7,000. When you plug it in, you can expect it to draw about 50,000 kilowatt-hours per year. So multiply the annual total of your monthly electric bills by 5, and you have an idea of how much it costs just to keep it lit up.

And can you even make a living mining bitcoin with just one rig? If somehow you manage to, just wait until the halving. We don’t know exactly when that’s going to happen, but it looks April-ish.

So how can you get into mining now? And do you have the expertise to operate the equipment effectively? Decentralization was supposed to democratize finance, but we’re faced with the same old barriers to entry.

That’s where GoMining comes in.

GoMining, a global bitcoin mining company with nine high-efficiency data centers worldwide, facilitates access to BTC mining rewards through the ownership of NFTs backed by real computing power. GoMining NFT holders own a real share of the mining power – between 1 and 5,000 TH/s – bypassing the difficulties associated with running physical mining equipment themselves.

Each NFT can be upgraded in both computing power and energy efficiency attributes, allowing holders to scale their output with just a few clicks. BTC mining rewards for holding an NFT are delivered daily to any wallet, whether internal or external, of the holder’s choice.

GoMining is revolutionizing Bitcoin mining with its Liquid Bitcoin Hashrate vision, an integral part of its unique mining approach.

“The concept of Liquid Bitcoin Hashrate emerged in response to the increasing competition, which had begun to marginalize many smaller players in the market. As a result, numerous retail miners found themselves unable to compete with larger pools and mining enterprises possessing substantial mining power,” says GoMining CEO Mark Zalan. “Liquid Bitcoin Hashrate represents ownership of tangible real-world value—the share of mining power conveyed through NFTs. This fundamental aspect sets GoMining apart from cloud mining projects that often promise substantial profits without possessing any real infrastructure on their own.”

The native token of the GoMining ecosystem, GOMINING, is accessible on both the Ethereum and Binance Smart Chain blockchains and is currently available on various exchanges. GOMINING is utilized for various on-platform payments, including NFT purchasing and upgrading, as well as granting access to an additional 10% discount for electricity fees. Users can stake GOMINING for any period between one week and four years to earn interest and participate in on-platform voting, according to a description of its vote-escrow tokenomics.

“We continuously strive to expand our liquidity sources and trading platforms for users' convenience,” according to Zalan. “Regarding digital miners, we currently boast over 24,000 unique NFT holders, collectively owning more than 58,000 GoMining NFTs. The secondary market is facilitated through the GoMining marketplace, as well as external platforms such as OpenSea.”

The idea of utilizing NFTs for such purposes isn't entirely new.

“Many technological, fashion, and other giants are already successfully leveraging this technology. It's no surprise that we, as veterans in the crypto market, opted for this simple yet brilliant solution,” Zalan says. “Also, digital miners add a gamification element, as they tell a story like all collectible items do. Consequently, GoMining blends the audience of mining enthusiasts and individuals seeking a reliable source of income with NFT enthusiasts, allowing everyone to assess the product from their perspective or even both.”

While GoMining’s NFTs aren’t the first ones to have something real behind them, this has traditionally been more of a use case for tokens. Certainly, most stablecoins are backed by something real-world, but they’re hardly the only real world asset-backed digital currency.

Still, does this project need both the NFTs and the tokens? Zalan states most emphatically that it does.

“GOMINING serves as our utility token, propelling the ecosystem forward,” he says. “It is utilized for various purposes such as NFT purchasing and upgrades, staking, and more from the user's perspective. However, what's even more crucial is that it forms the backbone of GoMining's veTokenomics, integrating holders of virtual miners and providers of computing power into a unified mutually beneficial framework.”