Bitcoin mining in the post-halving era presents a complex situation. Miners are facing challenges with reduced income, which has led some to exit the network. This decline is reflected in the decrease in mining difficulty. Meanwhile, the Runes protocol and Ordinals, innovative solutions in the field, have also experienced a sharp decline in activity.
Despite these challenges, there is cautious optimism for the future. Similar to previous cycles, Bitcoin has the potential to rebound in the coming months. Mark Zalan, the CEO of GoMining, a leading figure in the industry, remains hopeful about Bitcoin’s long-term prospects while acknowledging the current obstacles. During a recent AMA session with Cointelegraph, he shared his views and the company’s unique approach to making Bitcoin mining more accessible and affordable.
According to Zalan, GoMining’s mission is to make Bitcoin mining accessible to anyone with an internet connection and any budget. They achieve this by tokenizing the computational power and energy efficiency of their mining equipment, associating these tokens with special NFTs. Owning a GoMining NFT grants users ownership of real shares of Bitcoin mining power, generating mining rewards on a daily basis.
However, there is an important twist to GoMining’s approach. The company’s NFTs are not tied to individual mining machines but represent a share of a pool of computing power known as the “liquid Bitcoin hash rate” (LBH). Zalan explains that this decision was made to avoid the limitations associated with individual machines, such as breakdowns, loss of efficiency, and becoming outdated. The LBH NFTs offer users greater flexibility to upgrade their share of hashing power and energy efficiency to optimize their returns. They can also resell their LBH NFTs on GoMining’s marketplace or popular platforms like OpenSea and Getgems, providing liquidity to their investments.
Transparency is a fundamental aspect of GoMining’s reward system. Rewards generated by the entire mining pool are shared proportionally based on the user’s NFT share of the total hashing power, minus maintenance and service fees. Users have the flexibility to choose how they receive their rewards, whether it’s on a daily, monthly, or any other interval basis, or they can accumulate them for later. Real-time information about rewards, hashing power, and the contribution of NFTs to the power can be easily accessed on GoMining’s website and the Binance platform, as the company is part of the Binance mining pool.
The conversation also touched upon GoMining’s native token, GOMINING. Zalan explained that their initial system, which allowed easy buying and selling of NFTs, created an imbalance. Short-term investments were not conducive to the long-term growth required to maintain and expand their mining infrastructure. To address this, they launched the GOMINING token, which acts as a settlement mechanism within the ecosystem. Users who pay their daily maintenance and electricity fees with GOMINING receive a 10% discount, incentivizing their participation in the platform’s long-term health.
GOMINING plays a central role in fostering a healthy and rewarding ecosystem for users. It keeps value circulating within the system and ensures that everyone benefits from its growth. Staking GOMINING not only provides users with additional tokens but also grants them voting rights through veGOMINING votes. These votes allow users to participate in important decisions that shape the future of the GoMining ecosystem.
In addition to its token system, GoMining has a significant physical presence, operating nine data centers designed specifically for Bitcoin mining in different countries. These facilities have a combined processing power of 2.5-3 exabytes. The company prioritizes regions with favorable regulatory environments and excess power generation, benefiting both the power providers and GoMining as a stable and consistent energy consumer.
Zalan highlighted several regions that are well-suited for Bitcoin mining, including North America (especially Canada) due to its abundant hydropower resources, Scandinavian countries leading in alternative energy development, and the Middle East with its diverse power generation options.
In conclusion, Zalan remains bullish on Bitcoin, expecting it to continue gaining value and adoption. He sees no reason for this trend to change or be negatively affected. GoMining’s profitability allows them to invest in infrastructure, explore new locations, upgrade hardware, and improve efficiency.
For more information about GoMining, visit their website.
Disclaimer: This article is sponsored content and does not constitute investment advice. Readers are advised to conduct their own research and take responsibility for their decisions.