The pitch for GoMining sounds like a 2017 cloud mining scam in a new outfit: “Buy this NFT, earn real Bitcoin every day, no hardware, no setup, no noise.” That was my exact reaction the first time someone in a Telegram group sent me the link. So I did what I should have done in 2017 — I read the small print, did the maths, and put a small test amount in to see what actually happens. Here’s the honest version of what GoMining is, what it pays, what it costs, and whether it makes more sense than just buying Bitcoin.
Short answer: GoMining is a tokenised Bitcoin mining platform where each NFT represents a slice of real mining hardware running in industrial facilities. You own a hash-rate NFT, pay daily electricity costs, and receive a daily BTC payout. The model is legitimate — the mining is real — but the maths is sensitive to BTC price, electricity prices, and the secondary NFT market. For most people, dollar-cost averaging into BTC is simpler and competitive. GoMining is for people who want mining exposure without owning hardware.
Check GoMining → (affiliate)
Key takeaways
- Each GoMining NFT represents a fixed amount of hash power (terahashes per second) running in real data centres in Kazakhstan, the UAE, and other low-cost-energy regions.
- You receive daily BTC payouts proportional to your hash power, minus a daily electricity fee.
- The economic model only beats “just buy BTC” when BTC price rises, NFT secondary market holds value, and electricity costs stay reasonable. All three need to land.
- NFTs trade on the GoMining marketplace and on OpenSea — so you can sell hash power if your view changes.
- Tax treatment is messy. The mining payouts are typically income; the NFT itself is an asset. Get advice in your jurisdiction.
What GoMining is
GoMining is a platform that lets you buy Bitcoin hash power in the form of an NFT, then receive daily BTC payouts based on what that hash power earns minus electricity costs. The company operates real mining farms — primarily in regions with cheap energy — and tokenises slices of the operation as NFTs that anyone can buy or sell.
The model launched in 2022. The platform has now sold tens of thousands of NFTs representing several hundred petahash per second of mining capacity (as of the time of writing). That places it among the larger retail-facing Bitcoin mining platforms by user count, though tiny compared to public miners like Marathon or Riot.
The key thing to understand before going further: GoMining is doing real Bitcoin mining. The NFTs aren’t a pure derivative or paper claim — they map to specific machines running in specific facilities. The daily payouts come from the actual block rewards and transaction fees those machines earn.
That distinguishes it from the 2017–2018 generation of cloud mining sites (Hashflare, Genesis Mining, BitClub Network, and the rest) where in many cases the “mining” never existed at scale or where contracts were structured so users could never break even. GoMining is not that. The economics are still sensitive to inputs you don’t control, but the underlying activity is real.
How the model actually works
Here’s the mechanical breakdown.
The NFT
Each GoMining NFT has three relevant properties:
- Hash power — measured in terahashes per second (TH/s). A typical retail NFT sits somewhere between 5 TH/s and 100 TH/s. Higher TH/s means more mining contribution and a higher upfront price.
- Energy efficiency — measured in watts per terahash (W/TH). Newer miners are more efficient. A modern ASIC like the Antminer S21 sits around 17.5 W/TH. The efficiency of your NFT determines your daily electricity cost per TH/s.
- Underlying machine — the NFT is backed by a specific class of mining hardware. As that hardware ages and becomes less efficient, GoMining lets you “upgrade” your NFT to a newer machine class for a fee, which lowers your electricity costs and extends the NFT’s useful life.
The payouts
Every 24 hours, GoMining calculates how much BTC your hash power earned minus the daily electricity fee. The result lands in your in-app BTC balance. You can withdraw to your own wallet, or accumulate and withdraw less frequently to save on network fees.
The payout formula in simple terms:
Daily BTC payout = (your TH/s × global BTC mining reward per TH/s) − (your TH/s × W/TH × 24h × electricity price)
The global BTC mining reward per TH/s depends on three things outside your control: the BTC price, the mining difficulty (which rises as more miners join the network), and the block reward (which halves every four years, last halving was 2024, next is 2028).
The electricity price GoMining charges has historically been pegged in the range of $0.05–$0.07 per kWh, depending on the region. That’s competitive — most retail home miners pay $0.10–$0.30 per kWh. But it’s not fixed forever. The platform can raise it.
The marketplace
You can sell your NFT at any time on the GoMining in-app marketplace or on OpenSea. The price you get depends on the secondary market — there’s no guarantee you can resell at the price you paid. NFTs with high-efficiency hardware classes tend to hold value better than older, less efficient ones.
That’s the whole system. NFT = hash power, pay electricity, earn BTC, sell NFT if you want out.
What the daily BTC payouts look like in practice
Let me put real numbers on this. I bought a small starter NFT — 30 TH/s, modern-class hardware — for about $440 worth of crypto. The exact figures shift with BTC price and difficulty, but here’s the rough picture from my first three months running it:
| Month | Daily gross BTC earned (USD equivalent) | Daily electricity cost (USD) | Daily net payout (USD) |
|---|---|---|---|
| Month 1 | ~$1.85 | ~$0.62 | ~$1.23 |
| Month 2 | ~$1.70 | ~$0.62 | ~$1.08 |
| Month 3 | ~$1.55 | ~$0.62 | ~$0.93 |
So roughly $30–$37 per month in net BTC payouts on a $440 entry. That’s a gross yield of around 7–10% annualised before any BTC price movement. Whether that’s good depends entirely on what BTC does next.
Two important caveats. First, the gross BTC earned drops over time as global mining difficulty rises — more miners coming online means each TH/s earns less BTC per day. Second, those numbers are payouts denominated in dollars but the actual payout is in BTC, so if BTC pumps after you receive it your effective yield is higher; if BTC dumps, lower.
Over a multi-year time horizon, if BTC rises significantly, the cumulative BTC you accumulated at low prices ends up worth meaningfully more in fiat terms. If BTC falls, you’re still earning BTC but your fiat-equivalent yield is worse, and the NFT’s resale value drops too.
This is the whole picture. The platform is honest about it — but the marketing emphasises the BTC accumulation and downplays the price sensitivity. Both are real.
The electricity cost factor (the catch)
Here’s the part most reviews skip.
The daily electricity fee is the variable that makes or breaks the maths. GoMining charges, at the time of writing, roughly $0.05–$0.07 per kWh. The miner draws a certain wattage per TH/s based on its efficiency class. Multiply those out across 24 hours and you get the daily fee per TH/s.
For a modern, efficient miner — say 17.5 W/TH — the electricity cost is around $0.021 per TH/s per day at $0.05/kWh. For an older miner at 30 W/TH, that doubles to around $0.036 per TH/s per day.
If BTC price drops and mining difficulty stays high, the gross BTC per TH/s falls. The electricity fee is fixed in dollar terms. There’s a real risk that for older or less-efficient NFTs, the daily electricity cost exceeds the daily BTC earned — meaning you’re paying for the privilege of mining at a loss.
In mining language, this is called the “shutdown price” — the BTC price at which a given miner becomes unprofitable. GoMining doesn’t make you keep paying — if your NFT’s earnings can’t cover electricity, the NFT effectively goes dormant or you sell it. But it does mean the worst-case downside is not just “earn less”. It’s “earn nothing and watch the NFT depreciate”.
There’s also the platform risk: GoMining can change the electricity rate they charge. They’ve adjusted it before. If energy markets shift, they could raise it again. That’s a counterparty risk you’d not have if you owned the actual hardware.
The summary: assume modern, efficient hardware. Run the numbers at BTC = today’s price. Run them again at BTC = half today’s price. If both scenarios are tolerable, the NFT might make sense. If the second is brutal, the trade is more leveraged to BTC price than you might have thought.
GoMining vs traditional cloud mining
Cloud mining as a concept has a terrible historical record. The big names from the 2017–2019 era — Hashflare, Genesis Mining, MiningRigRentals contracts gone sour, BitClub Network — were mostly either outright scams or structurally guaranteed to lose users money once difficulty and BTC price diverged from launch assumptions.
GoMining is different in a few important ways:
| Traditional cloud mining | GoMining | |
|---|---|---|
| Contract structure | Fixed-term contract (1–3 years) | Perpetual NFT, sell any time |
| Secondary market | None — locked until expiry | OpenSea + in-app marketplace |
| Hash power proof | Opaque or none | NFT maps to specific hardware class |
| Electricity costs | Often hidden inside the price | Charged separately and transparently |
| Operator transparency | Often anonymous teams | Public team, public facilities |
| Hardware upgrade | None | Optional upgrade path within NFT |
The big practical differences: you can exit by selling the NFT, the electricity costs are visible (so you can do the maths), and the operation is transparent enough to verify the mining is real.
That doesn’t mean GoMining is guaranteed to beat the alternatives. It means the historical reasons cloud mining was a near-guaranteed loss aren’t all present. Some still are — difficulty rises, BTC price can fall, the platform has counterparty risk.
For a broader look at passive income approaches that don’t have these structural issues, the passive income crypto guide covers staking, lending, and other options.
GoMining vs just buying Bitcoin (brutal comparison)
This is the comparison that matters most. Anyone considering GoMining is implicitly choosing it over the simplest alternative: just buying BTC and holding it.
Let me run a hypothetical with rough numbers.
Scenario A — Buy BTC outright. You take $440 and buy roughly 0.005 BTC at $88,000. You hold it for 12 months. If BTC ends the year at $120,000, you have $600. If it ends at $60,000, you have $300.
Scenario B — Buy a 30 TH/s GoMining NFT for $440. Over 12 months you accumulate, say, ~0.0042 BTC in payouts (rough estimate, depends on difficulty and BTC price). At year end, your NFT is now older — call it worth $300 on the secondary market. Total: 0.0042 BTC + $300 NFT value. If BTC is at $120,000, that’s $504 + $300 = $804. If BTC is at $60,000, that’s $252 + maybe $200 NFT value = $452.
So in this rough scenario, GoMining beats holding BTC in the bull case (because you accumulated more BTC at low prices and the NFT held some value), and roughly matches or slightly beats in the bear case (because the dollar-denominated electricity costs effectively cost-averaged your BTC purchase).
But — and this is the brutal part — those scenarios assume the NFT resale value holds up. In reality, NFT secondary markets are volatile. If the GoMining platform loses momentum or BTC has a deep prolonged bear market, the NFT resale value could fall further than my estimate. That risk is asymmetric: in the bull case you might lose 30% of NFT value while BTC doubles; in the bear case you might lose 60% of NFT value while BTC halves.
The honest takeaway: GoMining is approximately equivalent to leveraged-long BTC with an extra factor for platform risk and NFT secondary market risk. It’s not magic. The “passive income” framing makes it sound like found money. It isn’t. It’s a structured product that trades simplicity for slightly more BTC accumulation if everything goes well.
If you want BTC exposure and you’re comfortable doing the maths, GoMining can make sense. If you want simplicity and certainty, just buy BTC. The how to buy Bitcoin guide covers the basics if you’re going the simpler route.
Want to test it with a small NFT?
Entry-level NFTs start around $100. The best way to understand the model is to own one and watch the daily payouts.
Affiliate link. I may earn a commission at no extra cost to you.
Risks worth taking seriously
Five real risks. Read them before you commit any money.
BTC price falling sharply
If BTC drops 50%, your daily payouts in dollar terms roughly halve. The dollar-denominated electricity cost doesn’t change. The break-even point on each NFT moves further out. For older, less efficient miners, you can cross the shutdown threshold.
Mining difficulty rising
The Bitcoin network’s mining difficulty adjusts every two weeks to keep blocks coming roughly every 10 minutes. More hash power on the network means each TH/s earns less BTC per day. Difficulty has been rising steadily for years and will continue to rise as more efficient hardware comes online.
Electricity price rises
GoMining can raise the electricity rate they charge. They have done before. If global energy costs spike, expect rates to follow. That directly hits the net payout.
NFT secondary market drying up
The marketplace works when there’s demand. If GoMining loses traction or BTC enters a deep prolonged bear, the secondary NFT market can dry up — meaning you can list an NFT and sit there for weeks without a sale. Your exit liquidity is not guaranteed.
Platform / counterparty risk
GoMining is a centralised operation. If the company gets regulated out of operation, sanctioned, or operationally compromised, the NFTs lose most of their value. The mining is real, but it’s run by a single operator. This is materially different from owning hardware in your own home (where the only counterparty is your electricity bill).
For most retail users, the risk that matters most is the combination of BTC price and difficulty drift. If BTC is range-bound or rising and difficulty grows at a normal pace, the maths usually works. If BTC drops sharply, the model under-performs holding BTC.
How to actually buy a GoMining NFT (step-by-step)
This is the boring how-to. Five steps.
- Create an account on GoMining. Go to gomining.com (affiliate). Sign up with email or connect a Web3 wallet (MetaMask, WalletConnect).
- Fund the wallet. You’ll need crypto to pay for the NFT — typically USDT, USDC, ETH, or BTC. Send from your exchange. If you don’t have an exchange yet, BitGet is the one I use.
- Browse the marketplace. Filter by hash power, efficiency, and price. Higher efficiency NFTs cost more per TH/s but have lower daily electricity costs.
- Buy the NFT. Confirm the transaction in your wallet. The NFT lands in your GoMining account and starts mining immediately.
- Set up withdrawal. Link your own BTC wallet address (use your Ledger or a software wallet). Withdraw your accumulated BTC every week or month to keep custody. Don’t leave it sitting on the platform — that’s an unnecessary risk. The how to store crypto safely guide covers self-custody properly.
That’s it. The NFT mines automatically. Your only ongoing activity is withdrawing the BTC and deciding whether to hold, sell, or upgrade the NFT.
Tax: mining as income vs NFT as asset
I’m not a tax adviser. Get advice in your own jurisdiction. But here’s the rough picture for the two common treatments.
The mining payouts are typically treated as income at the BTC value on the day of receipt. So if you received 0.0001 BTC when BTC was at $90,000, that’s $9 of income for that day. Multiply across every day for the tax year. This applies in the UK (HMRC), US (IRS), most EU countries, Canada, and Australia.
The NFT itself is typically treated as a capital asset. If you buy it for $440 and sell for $300, you have a $140 capital loss. If you sell for $600, you have a $160 capital gain.
The upgrades are messier. Some jurisdictions treat the upgrade fee as a capital improvement (added to the cost basis); some treat it as an expense. Ask.
The electricity fees are also messy. In some jurisdictions, mining income is taxed gross with the electricity costs only deductible if you’re operating as a trade/business. In others, the net (after electricity) is what counts. Big difference depending on which side of that line you land.
The practical implication: keep records. Export every payout date and amount. Track every NFT purchase and sale. Crypto tax tools like Koinly and CoinTracker can ingest GoMining data — usually via CSV export — and produce the right summaries. The CSV format from GoMining is workable but not perfect; budget some manual cleanup time.
If you’re earning anything more than nominal amounts on GoMining, talk to a crypto-aware accountant in your country. The tax cost of getting this wrong can wipe out the gains.
Should you do it? My honest take
Here’s the four-line decision tree I’d use:
If you already own significant BTC and want to accumulate more without buying at spot: GoMining might fit. The NFT is effectively a structured BTC accumulation product with electricity costs as the price of entry.
If you want passive income from crypto with simplicity: Don’t do GoMining. Stake ETH, use a lending product, or run a BitGet spot grid bot. The BitGet Earn products page covers simpler options.
If you want BTC exposure and you’re confident in the long-term BTC thesis: Just buy BTC. Hold it on a Ledger. The maths is simpler, the counterparty risk is lower, and the outcome is more predictable.
If you want to understand mining without buying hardware: GoMining is a reasonable way to dip a toe in. Spend $100–$200 on an entry-level NFT and watch how the daily payouts move over 6 months. You’ll learn more about Bitcoin’s economic model than from reading a hundred articles.
My actual position: I bought a small NFT — under $500 — purely as a way to track and understand the economics from inside. I won’t be scaling that up. The bulk of my BTC accumulation strategy remains DCA into spot BTC, held on a Ledger. The maths is simpler and the failure modes are fewer.
GoMining is not a scam. It’s a real product solving a real problem (mining without owning hardware) with real economics. But it’s not the easy money the marketing implies. The trade is approximately: pay a small premium and take on some platform risk in exchange for slightly more BTC accumulation if things go well. Whether that trade is worth it depends entirely on your view of BTC and your tolerance for the extra variables.
Ready to test the model?
If you want to understand mining without the hardware costs, an entry-level NFT is the cheapest education in BTC mining you’ll find.
Affiliate link.
Frequently asked questions
Is GoMining legit?
Yes. GoMining operates real mining facilities and the daily BTC payouts come from actual block rewards. The team and operations are publicly known. That said, “legit” doesn’t mean “guaranteed to profit” — the economics depend on BTC price, difficulty, and electricity costs.
How much can you earn with GoMining?
Realistic gross yields are in the range of 7–15% annualised in BTC terms, before electricity costs and assuming stable difficulty and BTC price. Net yields after electricity sit around 5–10% in current conditions. Higher BTC prices push yields up; higher difficulty pushes them down.
Is GoMining better than buying Bitcoin directly?
Sometimes. It’s structurally similar to a leveraged-long BTC position with some platform risk. In a strong bull market it can beat holding BTC. In a deep bear market it can underperform because of dollar-denominated electricity costs and falling NFT resale value.
What happens if BTC price falls?
Your daily payouts in dollar terms fall proportionally. Electricity costs stay the same in dollars, so the net payout shrinks faster than the gross. For older or less efficient miners, a deep BTC drop can take you below the shutdown price where the NFT earns less than its electricity costs.
Can I sell my GoMining NFT?
Yes. NFTs trade on the in-app marketplace and on OpenSea. Resale price depends on the secondary market — there’s no guarantee you’ll get back what you paid. Newer, more efficient hardware classes tend to hold value better.
Is GoMining safer than cloud mining?
Structurally safer than the 2017-era cloud mining scams. The hash power is real, the operations are transparent, you can exit by selling the NFT, and the electricity costs are visible. Counterparty risk on the platform still exists, but the model is fundamentally more honest.
Do you pay tax on GoMining payouts?
In most jurisdictions, yes. Mining payouts are typically taxed as income at the value on the day received. The NFT itself is typically a capital asset for capital gains purposes. Tax rules vary widely — get advice in your country.
Final word
GoMining is one of the more interesting products in the BTC accumulation category. It’s not a scam, it’s not a get-rich path, and it’s not a free lunch. It’s a tokenised slice of real mining operations, priced in a way that makes sense in some scenarios and not others.
If I were starting again today with no BTC and no mining exposure, this is the order I’d do it in:
- Open a BitGet account. Buy BTC at spot.
- Set up a Ledger Nano X and move the BTC to cold storage. Read how to store crypto safely.
- Set a monthly DCA buy at the same fixed amount, every month, regardless of price.
- Only after that base is in place, consider a small GoMining NFT as a way to accelerate BTC accumulation on the side. Cap it at 5–10% of your BTC stack.
- Use the GoMining experience to understand the economics of mining. Don’t scale up unless your view on BTC and difficulty is materially bullish.
That’s the playbook. GoMining is a tool, not a thesis. Use it as the latter and you’ll likely give back the gains.
Right — over to you.
Related posts
- How to Earn Passive Income in Crypto Without Getting Rugged
- How to Buy Bitcoin: The Beginner’s Walkthrough
- BitGet Earn — Every Product Explained
