After a long period of market lull, the cryptocurrency industry has come back to life starting in 2024, with Bitcoin hovering well above $40,000 and Ethereum surpassing $2,000. The market suffered a major decline in 2022, but began to recover quickly, rebounding in late 2023. Starting in 2023, Bitcoin has risen significantly, making it one of the best-performing investments of the year. About 160 percent.
Much of the new enthusiasm for investing in cryptocurrencies, especially Bitcoin, the largest digital asset by market capitalization, has to do with the asset’s increasing penetration into various industries and markets and the easing of regulatory pressure in various jurisdictions. . earth.
Following the recent approval of the Bitcoin ETF, developments could have a significant impact not only on the price of Bitcoin, but also its growth trajectory, potential use cases, and the pace of mass adoption. With all the buzz and renewed interest in Bitcoin, Bitcoin mining has re-emerged as a very popular and potentially profitable way to acquire the asset.
Since the launch of Bitcoin in 2009, mining has grown into a huge industry in its own right, with companies investing massive resources and spending significant energy costs to reap huge profits. But as mining developed into a major enterprise, many with an interest in the retail sector were left behind. Simply put, the threshold of entry into mining, from a financial, logistical and technical perspective, is too steep for the average person to choose.
First, every miner must have an advanced, high-speed computer capable of solving complex mathematical problems. This alone can set you back thousands of dollars. Then you need to consider the cost of electricity. Depending on the miner’s location, this can make it very difficult to break even, let alone make a profit.
However, like the cryptocurrency industry itself, the mining sector has evolved and new technologies and approaches have emerged that are once again attracting retail customers.
Liquid Bitcoin Hashrate
As retail miners are pushed out of the market, several solutions have been developed to democratize the industry and lower the entry barrier for would-be miners. One of the most popular approaches is cloud mining. Users can benefit from the rewards generated by mining projects by earning tokens or other assets from mining projects without having to purchase and set up mining equipment.
Despite its legitimate potential, cloud mining is a crowded field with projects promising huge profits while offering little of substance. This has led to trust issues for companies providing cloud mining services. However, one company has decided to leverage the many benefits and properties of cloud mining and place them within a completely transparent paradigm where users have actual control over their share of client-owned computing power.
This approach has gained traction as it brings a new level of control for retail miners while simplifying the process and making it easier than ever for new miners to enter the mining sector. GoMining, a project with mining centers around the world, has developed Liquid Bitcoin Hashrate (LBH), a way for users to earn a portion of the hashrate generated by real mining infrastructure.
Hashrate is a measure of the computational power used to process transactions on the Bitcoin network. In other words, mining Bitcoin. Users can earn LBH through GoMining NFTs, also called NFT miners. This opens up another previously unexplored use case for NFTs, giving owners exclusive ownership of the NFT itself and the hashrate associated with it. After acquiring an NFT, users can immediately enjoy the benefits as rewards are distributed to all owners on a daily basis based on the specific properties of each digital miner.
Purchasing an NFT miner is easy and convenient as users can choose from a variety of payment methods including GOMINING tokens, USDT, BTC, Apple/Google Pay, or bank cards. GoMining’s solution also significantly lowers the entry threshold, allowing access to the lowest priced NFTs for around $25-30.
After acquiring an NFT, users can modify its hash rate function by increasing its mining power. The process is streamlined through the platform’s user-friendly interface and transparent Bitcoin mining calculator, which provides estimates based on historical data. Accordingly, the only cost users have to bear is the electricity bill, which can be further reduced by paying with GOMINING, the platform’s native token.
Taken together, this process provides a steady and reliable way to profit from Bitcoin mining without breaking the bank or setting up a large-scale operating facility. Considering the volatility of the market and the risks it poses, many people have chosen this route instead of buying Bitcoin or other altcoins directly.
Reliable BTC Mining
Like the cryptocurrency industry as a whole, cloud mining and all its variants have had growth issues. This is understandable given the young demographic in the field, but potential users need to be able to trust the projects they want to participate in. There are many opportunists looking to take advantage of the opportunities this technology presents to profit from unsuspecting users. As a result, users must have a solid reason to trust their capital to mining operations, and the responsibility lies with the companies providing the service.
Gomining has been able to build a community of miners thanks to its transparent structure. The project has publicly presented token economics designed to ensure the benefit of both miners and power providers. The company physically owns and operates nine mining centers with a total power capacity of 350 MW and a hashrate of over 2,670,000 TH/s. In line with the transparency policy, the center is equipped with cameras that allow users to monitor mining in real time.
Additionally, unlike cloud mining, Gomining’s LBH approach is not built on outlandish promises of huge returns. Generally speaking, if it seems too good to be true, it is. Instead, the Gomining format is built on steady, sustainable growth and user autonomy.
Gomining has also been able to emerge as one of the rising forces in remote mining thanks to the partnerships it has built with other big players in the cryptocurrency industry and world-renowned brand ambassadors. The project has partnerships with a handful of top-tier digital asset exchanges, including Gate.io, Bitfinex, Bitget, and MEXC, and has teamed up with UFC legend Khabib Nurmagomedov to launch an exclusive NFT collection.
conclusion
The importance of the current moment for the prospects of Bitcoin and the entire cryptocurrency industry cannot be overstated. A potentially revolutionary SEC decision has created significant optimism about the future. As more people flock to this space, there needs to be more opportunities and use cases for everyone, not just the rich or tech-savvy. The Liquid Bitcoin Hashrate concept is a means of democratizing an industry that so desperately needs it and providing users of all kinds a path to the assets that are transforming the way the world finances.