Simplified Bitcoin Mining: Easy and Efficient

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Who Is GoMining(GMT)?
The simple answer is a bitcoin mining company. They remove and simplify the barrier to entry for bitcoin mining such as the cost of buying a miner and the complexity of setting it up. They have 9 data centers around the world.

The complex answer is a Bitcoin mining company that has developed a NFT protocol called Liquid Bitcoin Hashrate on the BNB/ETH/TON Networks. Each NFT minted from GMT on these chains possess a hashrate and energy efficiency in the metadata (such as 10 TH/s with 28 W/TH).

History:
The Regional Director for Europe asserted in 2015 a group of investors came together to privately mine bitcoin. In 2017, GoMining Hosting was founded and they offered a hosting service for other companies and investors. They continued to grow clients during the 2017 boom and subsequent 2018 bear market. At this time, most clients were wealthy that could afford the cost of spending thousands of dollars.

In 2021, GoMining pivoted goals and wanted to bring more people into Bitcoin mining. They introduced the GMT now known as GoMining Token, which was backed by the mining capacity GoMining had. Holders, where earnings were distributed after electrical costs were paid. This created the Liquid Bitcoin Hashrate (LBH) making hash power into a tradeable asset on Ethereum and BNB blockchains. They originally started with 100,000 TH/s and by 2022 grew to over 1,000,000 TH/s.

In 2022, the famous collapse of Terra and FTX happened. This marked the second bear market for GoMining. As increasing crypto legislation around the world began, GoMining realized they had to change their model to avoid being a security thus the NFT miner was created. They did not abandon GMT instead they repurposed it and introduced tokenomics. Things you can do with the token now is purchase their NFTs, pay for maintenance of your bitcoin miners, vote for new features, and stake them for APR the durations are between 2 weeks and 4 years.

As of today (June 2024), over 135,000 digital miners have been sold totaling over 4,450,000 TH/s. This has mined over 2,400 Bitcoins. Established partners with Bitmain, Binance Pools, Bitcoin Mining Council, TON Foundation (the blockchain) and recently they partnered with Trust Wallet. They have secured $3 million funding from Bitscale Capital to expand their protocol for Bitcoin mining. They have expanded to the Ton blockchain. On their website, you can verify the Binance pools they are in, see live streams of their facilities, and view the roadmap. GoMining just announced as of July 1st, a burning of 20,000,000 ERC-20 GoMining Tokens and minting them on the TON blockchain.

How to participate?

1. Go to https://app.gmt.io/register


2. Register and complete the sign up.


3. Activate your free trial in the miner tab.


4. In the My Miners tab, there is a create a miner button and click on it.


5. Select the hashrate you want and how efficient you want your miner to be
   
   
   • The higher the hashrate then the more return
     
     
     • The lower the amount of energy, the lower the maintenance fee (more bitcoin in return)


6. Select your payment method: Card, Apple/Google Pay, and several different crypto options.


7. Click on Promo code and add Slops5 for 5% off


8. Pay and BOOM you are mining bitcoin. You’ll get your first rewards 24 hrs after then every day after.


9. In order to receive those rewards, click on the wallet button and BTC and add your wallet.

If you would like me to dive deeper into their tokenomics, GoMiner Avatars, or anything else then please let me know below in the comments. Please provide any constructive criticism in the comments below!

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Sources:

The GoMining Website (gmt.io)
https://www.youtube.com/watch?v=yTur6YXpEPQ
https://cryptorank.io/news/feed/e7cbd-gomining-positions-themselves-for-next-bull-run-with-new-tokenomics
https://www.gate.io/learn/articles/what-is-gomining-all-you-need-to-know-about-gmt/1891
https://cointelegraph.com/news/bitcoin-mining-simplified-how-gomining-nfts-are-changing-the-game