Throughout its existence, Bitcoin has undergone three halving events, each contributing to breaking all-time high records in 2013, 2017, and 2021. As anticipation builds for the upcoming 2024 Bitcoin halving event, industry players are engrossed in speculations regarding its potential ramifications on both BTC price dynamics and the mining landscape.

Amidst the increasing interest in the industry, GoMining, a bitcoin mining platform, has introduced an innovative approach to seamlessly participate in BTC mining without the significant investments usually associated with setting up a mining farm. This alternative solution is based on NFTs backed by real mining power, also known as digital miners.

Today, we will examine the concept of mining bitcoin with NFTs in detail to assess whether this technology has the potential to simplify BTC mining processes.

Liquid Bitcoin Hashrate Definition 

The bitcoin mining market has long been recognized as a highly competitive and challenging niche, characterized by the ever-growing competition for mining blocks. As the Bitcoin hashrate consistently reaches new all-time highs, particularly in anticipation of the forthcoming reward halving expected in April 2024, smaller players may find themselves questioning their ability to maintain profitability.

The primary hurdles stem from the substantial expenses involved in establishing and maintaining a mining farm, a process that is both time consuming and demands expertise in selecting efficient devices and securing suitable locations. GoMining has innovatively addressed these challenges by significantly reducing entry barriers to the industry and offering unparalleled scalability.

In line with the Liquid Bitcoin Hashrate concept pioneered by GoMining, NFTs backed with specific amounts of computing power could provide a solution. Simply put, the computing power generated by the mining company is represented by a real-world asset (RWA), such as an NFT, which is then owned by an individual.

GOMINING token distribution logic 

The computing power owned by an NFT holder can range from 1 TH/s to a staggering 5,000 TH/s, that is, the equivalent of a substantial array of ASICs. It's worth noting that GoMining's revenue model is built on sustainable tokenomics, setting it miles apart from cloud mining projects that promise unrealistic profits without providing real ownership to clients.

DIgital Miner Creation & Upgrade

In bold numbers, the starting price for a basic digital miner is currently around $24 as of March 2024. This purchase will reserve an individual's ownership over 1 TH/s of computing power that will start earning them mining rewards the following day. 

With only a matter of clicks required to generate a digital miner, users have to choose the starting amount of computing power and select the best-fitting payment method including USDT, GOMINING token, or bank transfer (available nearly everywhere in the world for GoMining's clients). This process is made even easier with a smart, historical data-based bitcoin mining calculator that helps assess the potential ROI of the chosen miner's configuration.

Digital miner creation menu

Once the NFT miner is created, its owner has the freedom to upgrade it at any time if additional productivity is required. Another attribute that can be also improved is energy efficiency. Most of the basic miners offer a 35 W/TH energy efficiency level, which can be seamlessly upgraded up to 20 W/TH, and is comparable to the most modern ASICs entering the market in 2024. 

For those willing to give NFT mining a try before making a purchase, there's an option to choose a free 7-day trial. In this case, the generated miner will start earning daily mining rewards just the same way, giving its holder access to the in-platform flow and functionality. Once the trial period is over, the user is free to choose whether they would like to make a purchase and take home the rewards earned or wait a bit longer to consider other options.

Solo & Pool Mining 

The GoMining platform offers multiple mining strategies tailored to accommodate both experienced mining enthusiasts and newcomers taking their first steps in the crypto market.

Solo Mining represents the most stable and predictable method of earning rewards daily. By holding an NFT miner, BTC is mined daily, with rewards easily forecasted and distributed in proportion to the user's computing power. Since NFT miners directly represent computational power, owning higher-powered NFTs results in increased rewards.

GoMining mining pools leaderboard

On the other hand, Pool Mining offers users the option to join an existing virtual mining pool or create their own. Rewards are earned by teams that successfully mine a block and are then divided among all pool participants based on their contribution in terms of mining power. 

By adopting a pool mining strategy, users can participate in or even lead a community effort, collaborating with like-minded individuals to competitively mine blocks. Successful Pool Mining can yield significantly higher rewards compared to solo mining endeavors.

GOMINING Token

GOMINING serves as the utility token of the GoMining platform, with multiple functions beyond being an alternative payment method for purchasing and upgrading virtual miners, warranting dedicated attention and research.

Currently traded on major exchanges like MEXC, Bitfinex, and Gate.io, GOMINING exists on both the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains. Its deflation-based veTokenomics encourages price appreciation by continually reducing circulating tokens through burn and mint cycles.

Holders of GOMINING possess access to additional features such as staking and in-platform voting mechanics. Through these mechanisms, users can influence the platform's development trajectory and vote on situational perks like bonuses and discounts using veGOMINING votes earned by staking tokens.

The platform provides various staking options ranging from one week to four years, allowing holders to tailor their staking duration based on their objectives and strategy. 

Final Thoughts

GoMining presents a significant alternative for individuals looking to commence BTC mining without assuming the substantial financial risks typically linked with establishing their own mining farm. The platform's flexibility allows users to embark on their mining journey with a fraction of the mining power offered by existing devices, with the option to expand their digital miner's productivity at their discretion.

In a broader context, GoMining's digital miners offer a more predictable and secure avenue for individuals seeking passive income opportunities. This option appeals to those hesitant to engage in high-risk instruments such as Forex, crypto trading, or direct investment in digital assets, primarily due to the market's high volatility.

Throughout its existence, Bitcoin has undergone three halving events, each contributing to breaking all-time high records in 2013, 2017, and 2021. As anticipation builds for the upcoming 2024 Bitcoin halving event, industry players are engrossed in speculations regarding its potential ramifications on both BTC price dynamics and the mining landscape.

Amidst the increasing interest in the industry, GoMining, a bitcoin mining platform, has introduced an innovative approach to seamlessly participate in BTC mining without the significant investments usually associated with setting up a mining farm. This alternative solution is based on NFTs backed by real mining power, also known as digital miners.

Today, we will examine the concept of mining bitcoin with NFTs in detail to assess whether this technology has the potential to simplify BTC mining processes.

Liquid Bitcoin Hashrate Definition 

The bitcoin mining market has long been recognized as a highly competitive and challenging niche, characterized by the ever-growing competition for mining blocks. As the Bitcoin hashrate consistently reaches new all-time highs, particularly in anticipation of the forthcoming reward halving expected in April 2024, smaller players may find themselves questioning their ability to maintain profitability.

The primary hurdles stem from the substantial expenses involved in establishing and maintaining a mining farm, a process that is both time consuming and demands expertise in selecting efficient devices and securing suitable locations. GoMining has innovatively addressed these challenges by significantly reducing entry barriers to the industry and offering unparalleled scalability.

In line with the Liquid Bitcoin Hashrate concept pioneered by GoMining, NFTs backed with specific amounts of computing power could provide a solution. Simply put, the computing power generated by the mining company is represented by a real-world asset (RWA), such as an NFT, which is then owned by an individual.

GOMINING token distribution logic 

The computing power owned by an NFT holder can range from 1 TH/s to a staggering 5,000 TH/s, that is, the equivalent of a substantial array of ASICs. It's worth noting that GoMining's revenue model is built on sustainable tokenomics, setting it miles apart from cloud mining projects that promise unrealistic profits without providing real ownership to clients.

DIgital Miner Creation & Upgrade

In bold numbers, the starting price for a basic digital miner is currently around $24 as of March 2024. This purchase will reserve an individual's ownership over 1 TH/s of computing power that will start earning them mining rewards the following day. 

With only a matter of clicks required to generate a digital miner, users have to choose the starting amount of computing power and select the best-fitting payment method including USDT, GOMINING token, or bank transfer (available nearly everywhere in the world for GoMining's clients). This process is made even easier with a smart, historical data-based bitcoin mining calculator that helps assess the potential ROI of the chosen miner's configuration.

Digital miner creation menu

Once the NFT miner is created, its owner has the freedom to upgrade it at any time if additional productivity is required. Another attribute that can be also improved is energy efficiency. Most of the basic miners offer a 35 W/TH energy efficiency level, which can be seamlessly upgraded up to 20 W/TH, and is comparable to the most modern ASICs entering the market in 2024. 

For those willing to give NFT mining a try before making a purchase, there's an option to choose a free 7-day trial. In this case, the generated miner will start earning daily mining rewards just the same way, giving its holder access to the in-platform flow and functionality. Once the trial period is over, the user is free to choose whether they would like to make a purchase and take home the rewards earned or wait a bit longer to consider other options.

Solo & Pool Mining 

The GoMining platform offers multiple mining strategies tailored to accommodate both experienced mining enthusiasts and newcomers taking their first steps in the crypto market.

Solo Mining represents the most stable and predictable method of earning rewards daily. By holding an NFT miner, BTC is mined daily, with rewards easily forecasted and distributed in proportion to the user's computing power. Since NFT miners directly represent computational power, owning higher-powered NFTs results in increased rewards.

GoMining mining pools leaderboard

On the other hand, Pool Mining offers users the option to join an existing virtual mining pool or create their own. Rewards are earned by teams that successfully mine a block and are then divided among all pool participants based on their contribution in terms of mining power. 

By adopting a pool mining strategy, users can participate in or even lead a community effort, collaborating with like-minded individuals to competitively mine blocks. Successful Pool Mining can yield significantly higher rewards compared to solo mining endeavors.

GOMINING Token

GOMINING serves as the utility token of the GoMining platform, with multiple functions beyond being an alternative payment method for purchasing and upgrading virtual miners, warranting dedicated attention and research.

Currently traded on major exchanges like MEXC, Bitfinex, and Gate.io, GOMINING exists on both the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains. Its deflation-based veTokenomics encourages price appreciation by continually reducing circulating tokens through burn and mint cycles.

Holders of GOMINING possess access to additional features such as staking and in-platform voting mechanics. Through these mechanisms, users can influence the platform's development trajectory and vote on situational perks like bonuses and discounts using veGOMINING votes earned by staking tokens.

The platform provides various staking options ranging from one week to four years, allowing holders to tailor their staking duration based on their objectives and strategy. 

Final Thoughts

GoMining presents a significant alternative for individuals looking to commence BTC mining without assuming the substantial financial risks typically linked with establishing their own mining farm. The platform's flexibility allows users to embark on their mining journey with a fraction of the mining power offered by existing devices, with the option to expand their digital miner's productivity at their discretion.

In a broader context, GoMining's digital miners offer a more predictable and secure avenue for individuals seeking passive income opportunities. This option appeals to those hesitant to engage in high-risk instruments such as Forex, crypto trading, or direct investment in digital assets, primarily due to the market's high volatility.