- Verifying and adding transactions to the Bitcoin blockchain is known as mining. It is a computationally intensive technique that necessitates the use of advanced computers.
- GoMining is a provider of cloud mining services. You can rent mining power from GoMining instead of buying it.
- The Bitcoin network’s global hash rate has achieved an all-time high of 200 exahashes per second.
Bitcoin mining is one of the most rewarding ways to contribute to the network while earning BTC.
However, most people need help to start. The financial investment, technical understanding, and active upkeep required for most people to enter the Bitcoin mining space are relatively inexpensive.
However, all that is changing thanks to an established Bitcoin mining company, GoMining.
What is GoMining?
GoMining is a Bitcoin mining firm that wants to make Bitcoin mining accessible to the general public. They’ve proposed the Liquid Bitcoin Hashrate (LBH) concept, which entails tokenizing Bitcoin miners’ computing power into digital assets. These LBH tokens can be used in DeFi systems for various purposes like buying, selling, borrowing, and lending.
GoMining has implemented the LBH token concept in their GoMining NFTs, representing mining rigs with unique computing power and energy efficiency.
Over 2,000 unique NFT holders have received over 2,000 BTC in the last two and a half years. As more GoMining NFTs are sold, the company increases its hash power, resulting in more Bitcoin earnings for token holders.
Recently, GoMining introduced their GOMINING tokenomics, enhancing their field. This approach allows individuals to participate in Bitcoin mining without the complexities of physical equipment.
The GoMining NFT
The GoMining NFTs are unique digital assets linked directly to GoMining’s Bitcoin mining equipment. Each NFT possesses two essential traits: hash power (TH/s) and energy efficiency (W/TH).
- Hash power (TH/s) directly impacts the amount of Bitcoin you can earn daily. More terahashes (TH/s) mean more Bitcoin earnings.
- Energy efficiency (W/TH) affects the cost of energy required for mining. Lower watts per terahash (W/TH) translate to lower energy expenses.
GoMining offers four NFT collections, including their latest collaboration with MMA legend Khabib Nurmagomedov, called the Khabib NFT collection. These NFTs highlight significant moments from Khabib’s career and come with 29 TH/s of computing power, representing his 29 career victories.
Anyone interested can explore the various GoMining NFTs on the GoMining Marketplace, which includes both primary and secondary markets for trading and ownership.
GoMining: The Token
GoMining has introduced significant changes to its token, GOMINING, offering increased utility:
- Token Ticker
The token ticker from its previous GMT has been updated to GoMining.
- Discount Token Model
GoMining NFT owners can now enjoy a 10% discount on mining fees when paying with GoMining. This reduces operational costs and potentially leads to higher daily Bitcoin earnings.
- Burn and Mint Process
GoMining used to pay mining fees is burned, and a smaller amount of newly minted GoMining is distributed to various stakeholders, including service providers, veGoMining stalkers, NFT holders, and the GoMining team.
- Vote-Escrow (ve)
Users who lock GoMining into the veGoMining contract gain governance rights and a share of the rewards designated for governance participants.
These changes aim to increase demand for GoMining through the discount token model while controlling its supply through the burn/mint process and vote-escrow mechanisms.
GoMining is the essential fuel for the GoMining NFT engine, and its scarcity increases over time.
Conclusion
GoMining has ambitious plans for the future.
Their plan is simple.
Build a system with a capacity of 30,310,000 TH/s, equivalent to 20% of the world’s BTC production, within the next two years.
The most remarkable feature of this aim is the speed with which they have already achieved their current status, having already exceeded over 2 million TH/s.
GoMining will meet its objectives with people powering the GoMining sector via GoMining and GoMining NFTs. And if that happens, the quantity of bitcoin distributed to their token holders will exceed their previous triumphs.
