A Comprehensive Guide to GoMining: All You Need to Know About the Bitcoin Mining Firm

A Comprehensive Guide to GoMining: All You Need to Know About the Bitcoin Mining Firm

Several companies are aiming to simplify Bitcoin mining. Among them is GoMining. In this article, we will discuss how GoMining is revolutionizing Bitcoin mining. Keep reading to learn.

Exploring GoMining

GoMining is a popular Bitcoin mining protocol that aims to democratize the process of mining BTC. It intends to make crypto mining accessible to everyone by removing all the barriers, such as expensive startup costs and operational knowledge required to run a Bitcoin operation.

GoMining has nine data centers located in different countries. Moreover, it owns more than 50,000 mining machines.

GoMining Team and History

Mark Zalan, an experienced software engineer, serves as the CEO of GoMining. Before being appointed to his current role, he was the Chief Infomation Officer at GE Capital.

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GoMining has been in business for seven years as of February 2024. Before rebranding in 2023, it was known as GMT. The company introduced a new way of mining Bitcoin called Liquid Bitcoin Hashrate in 2022. With Liquid Bitcoin Hashrate, holders of certain NFTs issued by GoMining gain a particular percentage of the firm’s mining capacity. This allows anyone who doesn’t mind holding NFTs to be part of the Bitcoin mining process.

GoMining NFTs

As mentioned, each GoMining NFT has a mining capacity attached to it. The higher the capacity, the higher the mining rewards the NFT holder receives. What’s more, GoMining NFTs can be used in the decentralized finance sphere. For example, the holders can use their non-fungible tokens as collateral to secure crypto loans.

The computing capacity associated with GoMining NFTs varies from 1 TH/s to 5,000 TH/s. Regardless of the mining power attached to your NFT, Go Mining will send you mining rewards on a daily basis.

The Bitcoin mining company issues its NFTs on two blockchains, Ethereum and BNB Smart Chain. As of this writing, GoMining has five NFT collections, including The North Collection, Khabib Collection, The East Collection, The Greedy Machines VOL 1 and The Greedy Machines VOL 2. It is worth mentioning that NFTs from these collections can be traded on secondary NFT marketplaces.

Trial Period on GoMining

Unlike its competitors, GoMining offers new users a trial period to test the platform services before committing funds. This period usually lasts for seven days. As a new user, you will be given a “trial NFT” with a mining capacity of 16 TH/s. Moreover, you will receive mining rewards but cannot cash them out.

Earning Strategies Available on GoMining

There are several ways of earning money on GoMining. The most popular, of course, is through owning a GoMining NFT, which allows you to receive rewards daily. Note that mining rewards are paid in GoMining tokens, not BTC.

Another way to earn on GoMining is through staking the platform’s native tokens. When you stake a token on GoMining, you become a veGOMINING holder. This allows you to get a portion of the newly minted tokens.

The third way of making money on GoMining is by cashing out your NFT when it surges in value. Moreover, you can use a GoMining NFT to explore investment opportunities in decentralized finance.

How Do You Sign Up With GoMining?

Step 1: Visit GoMining’s official website (app.gmt.io) to create an account. You will be required to submit your email.

Step 2: Upon creating an account, complete the Know Your Customer procedure. This is done by uploading your identification document. GoMining will review the document within a day. Note that you will also be needed to provide your selfie.

Step 3: After verification, GoMining will allow you to fund your account to buy an NFT and start mining. There are numerous ways to deposit funds into your GoMining account. Some include USDT, GoMining Pay, Coinbase Pay, and Binance Pay.

Do Users Trust GoMining?

GoMining is rated 4.4 on Trustpilot, with users praising the Bitcoin mining platform for its responsive customer support and transparency.

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Michael Varney
About Author

Michael Varney

Michael Varney, a distinguished name in crypto journalism, offers deep insights into the world of blockchain. Merging meticulous research with eloquent prose, Michael's articles decode the complexities of digital currencies, establishing him as an indispensable source for those keen on understanding the evolving crypto landscape.

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