r/GoMiningTalk

I've been using GoMining for a while now and thought it might be useful to share some actual numbers rather than another "is GoMining legit?" post.

This isn't financial advice and I'm not claiming this is better than simply buying BTC. GoMining has platform, mining, token and counterparty risk that holding BTC yourself doesn't have.

CURRENT SETUP

My fleet is currently:

• 254.19 TH total
• 12 W/TH efficiency across the fleet
• 6 miners
• Platinum III VIP
• 26.59% maintenance discount
• BTC rewards accumulated in my GoMining wallet and periodically moved out
• I also participate in GoMining governance by locking GOMINING tokens

My objective is fairly simple:

Build a mining setup that eventually pays its own maintenance and continues accumulating BTC without needing regular new cash from me.

LATEST REAL NUMBERS

My latest daily mining reward was:

0.00010966 BTC

That's about 10,966 sats for that reward.

My wallet currently contains:

0.00438582 BTC

I'm using 0.005 BTC as my withdrawal/sweep point, so I'm getting fairly close to another one.

I've also got USDT held in Simple Earn, currently showing 11.27% APR in the app, which provides some additional BTC rewards while the money is waiting to be used.

TODAY'S EXPANSION

I just added another 32 TH to one of my existing miners.

Before:
2.1484 TH

After:
34.15 TH

Cost:
494.52 USDT

Price:
$15.45/TH

Efficiency remains:
12 W/TH

The app estimated the miner's daily reward moving from:

0.00000106 BTC/day
to
0.00001685 BTC/day

So the incremental 32 TH is initially adding roughly:

0.00001579 BTC/day
= 1,579 sats/day

At today's rate that's roughly 576,000 additional sats/year, although obviously nobody should extrapolate that unchanged for years because mining difficulty, halvings, fees and network hashrate will change.

WHY I BOUGHT THE UPGRADE RATHER THAN ANOTHER MINER

Interestingly, GoMining was offering me a new 32 TH / 12 W/TH miner at about $16.59/TH.

The upgrade was $15.45/TH.

So I upgraded one of my small miners instead.

I've also decided that future expansion will generally be capped at around 32 TH per purchase rather than continually buying huge miners.

That gives me much more control over capital deployment.

THE PART I THINK PEOPLE OFTEN MISS: MAINTENANCE

I don't look at TH purchase price alone.

Every extra TH also creates additional maintenance requirements.

My approach is therefore to look at the "fully supported cost per TH":

miner/upgrade cost
+
the additional governance/flywheel capacity needed to help cover its maintenance.

I lock GOMINING tokens and receive governance rewards. The longer-term objective is for governance rewards to cover roughly 2x my maintenance requirement.

I'm not fully at that target following today's expansion, so I'm deliberately stopping TH purchases for now and allowing the governance side to catch back up.

In other words, I don't regard cheap TH as automatically being a good purchase.

BTC PRODUCTION WILL DECLINE

I'm also not modelling today's BTC/TH forever.

Bitcoin halvings reduce block subsidy and network difficulty/hashrate changes over time.

However, I don't think assuming mining output simply collapses towards zero is realistic either.

Difficulty adjusts, inefficient miners leave, transaction fees contribute to mining revenue and the network reaches new economic equilibria.

So I expect BTC per TH to decline over the long term, particularly around halvings, but not disappear.

That's one reason I've concentrated on getting the entire fleet to 12 W/TH.

WHAT I LIKE ABOUT GOMINING

• Actual BTC accumulation is satisfying and measurable
• No physical ASICs sitting in my house
• 12 W/TH efficiency is available
• Miners can be expanded in relatively small increments
• Governance rewards can offset some operating costs
• BTC production gives me a different accumulation mechanism from simply buying BTC
• There is a marketplace/resale mechanism

WHAT I DON'T LIKE / RISKS

• You're dependent on GoMining as a company/platform
• You're exposed to mining economics and Bitcoin difficulty
• GOMINING token economics matter if you use the governance system
• Maintenance never disappears
• It's more complicated than buying BTC and putting it in cold storage
• Attractive ROI figures in the app shouldn't be treated as guaranteed returns
• It's very easy to get tempted into continually buying more TH

That final point is probably the biggest lesson I've learned.

Cheap TH can make expansion addictive.

I've now imposed a rule on myself:

Get the existing mining engine properly supported before adding more.

WHAT I'D TELL SOMEONE STARTING TODAY

I wouldn't start with a massive miner.

I'd start small, choose 12 W/TH if the economics make sense, watch the actual BTC and maintenance flows for a few months and learn how the system works.

And I'd compare every proposed purchase against the simplest alternative:

"What happens if I just buy the equivalent amount of BTC instead?"

Sometimes the miner wins on my assumptions.

Sometimes BTC wins.

I don't think anyone should automatically assume one is better.

I'll probably post periodic updates with actual BTC production, maintenance, governance rewards and whether my self-sustaining mining experiment is working.

Happy to answer questions about the numbers or show screenshots of anything useful.

DISCLOSURE:

I do have a GoMining referral link. If somebody has already decided they want to try GoMining and finds this post useful, please message me and use my referral code!

Using it can give me referral rewards, so please don't use it under the impression that I'm an independent reviewer with no financial interest.

I would much rather someone didn't invest than bought something they don't understand just to use my referral.

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Looking for a referral code? You can find one below. (All referral codes offer the same bonus).

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So I recently went to top up GMT and it use to be free to covert… now they want a 2.25% fee from USDC —> GMT… wtf is that.

Any work around? I’m not using a card or anything literally just a straight swap..

Also added a fee to withdrawal BTC.. these fees could kill this platform

I’ve been in GM for almost 1 year, (3 more days!). I’m at 310.3TH, 14.51w/TH, 26.35% Discount & 17,302 votes. I obviously believe is staking and maintaining my 20% discount.

I was looking at the Tokenomics page Burn Chart and something struck me funny. The percentage of NFT holders who pay their fees in GMT is 43.54%! That means that 56.46% don’t! Why? Doesn’t saving 20+% on fees outweigh paying higher fees in BTC? What am I missing? Do more than half of the miners not want to hold GoMining Token? Is paying with GMT such a new thing that the old timers just never changed their old ways? Is there anyone who pays their fees in BTC want to elaborate why they’ve chosen not to take the GMT route? Just curious..🧐🤔

I know nobody can predict but just curious.

Do you believe gomining will still be around in 10 years time?

Introduction

Lately, I’ve seen a lot of people talking about insane ROI, claiming that making a profit is easy and that gomining is an excellent platform for investment. Today, I’m here to present you with... numbers.

Consideration

Before we begin, there is a very important concept you need to keep in mind before investing in this market: if you are investing in BTC mining, your objective is to eventually earn more BTC than you could buy today with the same amount of invested capital.

Let's make it easy: if your miner yields 1 BTC over time, but you could buy 2 BTC right now for the same amount of money used to purchase that miner, then investing in mining makes no sense, you are essentially just lending out your money with the promise that it will be paid back over five years with some interests.

I already know what you’re about to say: "Yes, but with mining, once you break even, it’s all profit." That would be true were it not for the halving and the difficulty. The reality is that you will never actually break even with btc, but to understand why, let’s move on to the calculations.

Calculations (Future)

For these calculations, I made a couple of rather conservative assumptions (regarding difficulty), the variables taken into account are:

• $6600 initial investment
• 512th miner (15w/th)
• Current btc price (2026): 64000$
• Future btc price (2029): 190000$
• Daily sats (gross): 26000
• Difficulty +10%/year
• Halving 2028 (-50% gross sats per day)
• Maintenance costs: 13$/day

To calculate the sats we can earn over the course of the year, we only need this formula:

• ((gross_sats / DIFFICULTY^current_year) - (MAINTENANCE_PRICE / btc_price * 100000000)) * 365

Now, let's say that btc will go up linearly from 64k$ to 190k$ by 2030, that service and maintenance fees remain at 13$/day, that mining difficulty increases by +10% per year (could be more, the difficulty has tripled over the last three years) and that the 2028 halving reduces the gross sats generated by 50%.

Formula: ((gross_sats / DIFFICULTY^current_year) - (MAINTENANCE_PRICE / btc_price * 100000000)) * 365

Year 1 (btc avg 85k):
((26000/1.10^1) - (13/85000*100000000)) * 365 = 3044920 sats = 0.03044920 btc

Year 2 (btc avg 111.25k):
((26000/1.10^2) - (13/111250*100000000)) * 365 = 3577807 sats = 0.03577807 btc

Year 3 (btc avg 137.5k) - 2028 HALVING:
(((26000/1.10^3)/2) - (13/137500*100000000)) * 365 = 114080 sats = 0.00114080 btc

Year 4 (btc avg 163.75k):
(((26000/1.10^4)/2) - (13/163750*100000000)) * 365 = 343189 sats = 0.00343189 btc

Year 5 (btc avg 190k):
(((26000/1.10^5)/2) - (13/190000*100000000)) * 365 = 448903 sats = 0.00448903 btc

...

As we can see, the total generated is 0.07528899, if we consider 190k as btc price, that's $14,304 - 6600$ = $7,704 profit (USD). Not bad, right? But let's see what would have happened if we had simply bought BTC at $64k with the same $6,600 investment: 6,600 / 64,000 = 0.103 BTC, which at 190k equals... $19,570. You earned both less USD and btc.

Let's see the past

I can already imagine many people saying, "Well, you used unknown future variables." Fair enough, so I ran the same calculations using 2023 data, and the result is worse than my previous calculation (which was clearly optimistic).

Let’s take August 23 2023, as our reference point, the moment gomining began selling its first miners based on TH, let's look at the variables:

• $6600 initial investment
• 22.99$/TH > 287th miner (35w/th)
• Old btc price (2023): 26000$
• Current btc price (2026): 64000$
• Daily sats (gross): 66700
• Difficulty: historical (avg 52% increase per year)
• Halving 2024 (-50% gross sats per day)
• Maintenance costs: 14.61$/day

Formula: ((gross_sats / DIFFICULTY^current_year) - (MAINTENANCE_PRICE / btc_price * 100000000)) * 365

Year 1 (btc avg 44k):
((66700/1.52^1) - (14.61/44000*100000000)) * 365 = 3897117 sats = 0.03897117 btc

Year 2 (btc avg 83k) - 2024 HALVING:
(((66700/1.52^2)/2) - (14.61/83000*100000000)) * 365 = -1156203 sats = -0.01156203 btc

In this case, the total is only 0.03897117 btc (excluding year 2, which was already in loss and the 8 months after halving during first year, otherwise the result would be even lower). This means that with the same initial investment, at 26000$ we would have bought 0.253 btc and even if we had bought BTC at $100,000, near the top, it still would've been more profitable to simply buy btc directly (6,600 / 100,000 = 0.066). I also did other calculations checking late 2024, assuming 15w/th at $29.99/TH (when 15w/th miners had just come out), the result turned out to be the same.

The End.

I hope this post proves helpful. If after doing your own calculations, you believe the product was misrepresented or differed from what was represented, you may want to look for refund or dispute the payment.

p.s. If you think there's something wrong, show me, I'm open to corrections.

EDIT: while replying to another guy I just noticed an error, the original $13/day maintenance fee was rounded down and already included about a 3% discount. The actual pre-discount maintenance is about 13.78$/day, these may change a lot.

EDIT 2: for everyone that says “you did not consider maintenance discount and this and that” please, before commenting, make the calcs yourself because the result is, as long as I see, the same. Remember to consider the amount used in tokens in the btc purchase too, as initial investment, otherwise it doesn’t make sense obviously

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Two questions

to ask questions im new and have got a couple people to join. one has expired id but getting a new one just to pay kyc my brother, my wife likes it passed kyc everything good, my daughter passed it only had one miner don't like it, can we all or transfer miner or being she only got one don't work but ive tried missing with it a bit not real smart after stroke trying to learn over again thank you and god bless

2nd I try to lock coins out won't let me if I delete everything avd reinstall like Elliot ai says. But alot of work anyone else having problem thank you avd god bless

I saved all my earnings for one month. I had seven minors doing 18TH at 13.3 W /TH and in that month keeping up with discounts and all that I made $1.93 I have no idea how much I put in it but I sold everything just now a few minutes ago for half of the suggested price so if you were on the marketplace at 7 o’clock you’re very welcome. Enjoy it

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Salut à tous,

Tout est dans le titre

Ce jour je vérifie mes récompenses et surprise, 4.6$ !!

Or 33 blocs minés/remportés personnellement en horizon valent plus de 800gmt = 224$ !!!!!

Je devrait au minimum avoir 150...?

avez vous reçu vos récompenses ?

(J'ai des screenshots si besoin)

Merci par avance pour vos reponses

edit : merci a tous vraiment

c'est bon j'ai recu

c'est un autre compte, mais 2min apres avoir posté, comme par hasard ca arrive sur mon compte; Restez prudents les amis quand meme