An AMA (Ask Me Anything) session is a great opportunity for us to let you know what’s going on in the company, our progress, and our plans for the future. This is also a chance for you to ask any burning questions, or simply to get a few things off your chest. We were joined by GoMining CEO Mark Zalan for another informative talk. A lot has happened since our last AMA session, so let’s quickly get up to speed with Mark before we jump into our questions.
We’ve spent a lot of time adjusting our tokens for listing and tickers on various exchanges, and I’m happy to report that all exchanges are now listing GOMINING tokens. We’ve also wrapped up several campaigns that have brought in a lot of new users to GoMining, including the Zealy campaign and our Bitcoin Pizza Day event, which featured a special miner collection that sold out within 24 hours. GoMining also hit an important milestone by selling 4 million TH attached to miners, and we’re working hard to build our infrastructure to keep up with the strong demand for our virtual mining capacity. Double-digit growth has been sustained month-over-month, and we’re overjoyed to see the project maintaining its increasing traction, providing substantial value to our user community and the ecosystem.
Bitscale Capital made a large $3 million investment, which went into the NFT miners and tokens, with an additional $12 million going into the ecosystem. Another exciting update is the launch of our NFT game and pooling function, called Miner Wars, which was voted on by our community. We also concluded up a partnership with Trust Wallet and an airdrop, bringing a significant number of new users into the ecosystem. Overall, the Bitcoin and GoMining ecosystem is growing, and the outlook is very promising.
Let’s now turn to our questions.
Question 1
Do you think GoMining will need to increase energy efficiency to below 20 W/TH by the next halving?
Mark: This is a broad topic with several points to address. First off, our NFTs are designed to mimic real-world mining circumstances, including energy efficiency, which parallels the efficiency of the hardware miners in our data centers. These data centers provide the hash power that backs our NFT miners and mining rewards distributed daily. We aim to keep the digital process as close to the real-world process as possible. Therefore, we’ll only update the capabilities of our digital miners when new mining equipment with better energy efficiency becomes available.
Predicting the bear market for 2026–2028 is challenging due to the cyclical and volatile nature of the Bitcoin ecosystem. We believe in the long-term growth and value appreciation of Bitcoin, and our strategy focuses on continuing to invest in our ecosystem to grow the project, optimize performance, and provide value to our community. Cycles and volatility will, of course, take place, but we remain committed to long-term investments and improvements.
Question 2
Is there any plan to reduce electricity costs?
Mark: We already have some of the lowest electricity costs in the world at 5 cents per kilowatt. We aim to pass these savings on to our user community, with minimal margins going toward energy infrastructure expenses. We offer opportunities to optimize costs further, such as discounts for paying with GOMINING tokens and participating in our NFT game.
While it’s challenging to lower costs beyond our current rates, we continually look for ways to optimize with new data centers and infrastructure installations. Increasing efficiency remains our best strategy for reducing costs.
Question 3
Can we expect NFT miners to be profitable five years from now?
Mark: Predicting if our NFT miners will be profitable five years from now is tough because it depends on things like electricity prices, how efficient the mining equipment is, and the price of Bitcoin. Even though we can’t say for sure what will happen, we believe Bitcoin will grow in value over the long term, and mining will stay profitable. Our plan is to stay focused and invest in newer, more energy-efficient equipment as it becomes available, so we can keep generating mining rewards for our community.
Question 4
Will GoMining increase the max terahash to combat the reduction of rewards following the recent halving?
Mark: Although we have set a limit of 5,000 TH, users can add more miners if needed, effectively expanding horizontally. This approach helps keep things profitable and lets users run their mining pools as efficiently as possible. Once you reach 20 TH, it’s simply a matter of adding more miners to increase your hash power.
Question 5
What is GoMining’s plan to improve understanding and knowledge about GoMining?
Mark: We put a lot of effort into creating educational content, including YouTube videos and social media posts. It would be great if everyone already knew about our project, but we’re always open to suggestions and constantly looking for ways to help users better understand what we do.
Question 6
Do you plan on launching an app? Is there a referral scheme available?
Mark: Yes, we have an app available on the App Store, which I actually use daily. We also have a live referral function that allows users to generate and share referral links, earning a 5% discount on royalties for purchases made through their referrals. Paying in GOMINING tokens helps grow our system.
Question 7
What are the security measures for your product? How do you secure your product for users?
Mark: We have robust security measures, including advanced technical systems and our employees pass thorough training on security protocols. Protecting your information is a top priority for us, and we continuously invest in reliable solutions to keep our users safe.
Question 8
What type of NFTs can I use to mine with GoMining?
Mark: You can use our miners, which are NFTs representing digital miners backed by hash power from equipment in our data centers. These NFTs are available for purchase on our website.
Question 9
What do we investors get for launching our own mining pools?
Mark: Launching your own mining pool can boost your mining revenue and ROI if you do it right. It does require technical expertise, but it offers the potential for more rewards and allows you to provide additional value-added services to the community, such as speeding up transactions.
Question 10
What is the service fee for?
Mark: The service fee covers the costs of running the data centers and compensating investors. You can find more information about this on our website.
Wrapping Up
We have a dedicated support staff available across various social media channels in multiple languages. If you need personal support or explanations on how our product works, feel free to reach out. Thank you for your trust and support in our ecosystem.
May 8, 2024
