Bitcoin millionaires may make it look easy, but anyone who’s tried starting from nothing and climbing to the status of a crypto whale can tell you — mining isn’t a get-rich-quick scheme. On the contrary, it’s a very demanding endeavor that requires a starting capital and technical knowledge.
When we ask ‘Is Bitcoin Mining Profitable?’ we’re really asking whether the resources we put into it are going to be reimbursed. Let’s take a look at the different types of mining and determine if it’s possible to make it as a Bitcoin whale by mining BTC.
The Types of Bitcoin Mining
There isn’t one universal way to mine Bitcoin. It may have started out that way, but when it comes to the tech industry, things rarely remain the same for long. Bitcoin was no exception: as soon as the prices for the token went up, the market adapted and turned mining into a highly competitive industry, where companies battle for the customers’ attention.
Traditional Mining: The OG Bitcoin Mining
The OG mining didn’t go anywhere. On the contrary, it grew and changed. Where only years ago it was still possible to build a small BTC empire using only GPU/CPU chips, today you’d need a whole mining farm. Single-purpose ASIC miners came to replace more versatile devices.
Their price doubled the cost of a regular GPU, and they came with their own set of demands too. ASIC miners can’t be stored at home, they are loud, they need maintenance, and they demand a lot of electricity. Needless to say, they are high-risk equipment that without the necessary care, can cause fires and power outages.
However, ASICs had something no other Bitcoin mining method at the time could promise. They’re profitable. One of the most popular BTC miners today costs around $4,500 and brings about $13 daily with half of the amount going into paying electricity fees. This brings us to around $2.372 per year, according to the current Bitcoin price.
This miner essentially takes two years to fully pay for itself and start bringing passive income. But not everything is as perfect as it seems: as an ASIC miner owner, you don’t just pay for the electricity. You pay for a mining hotel unless you can afford a separate room for Bitcoin mining at home. You pay for maintenance and if anything goes wrong, repairments are also your responsibility. You can’t forget about the halving either, since in just 4 years your brand new miner will bring less rewards.
In other words, bitcoin solo mining can go either way. It can be an incredibly successful operation if you have the resources to run and maintain it. It can also be a failure if you make a crucial mistake. When new users wonder how to start mining Bitcoin, it’s important to inform them of these potential risks.
To avoid certain issues, such as high cost, a group of mining enthusiasts can band together and form a Bitcoin solo mining pool — they split the expenses, use the collective mining power, and similarly share the rewards. But finding the best Bitcoin mining pools isn’t a simple task. You have to be well-versed in the industry.
Cloud Mining: Almost Like Solo Bitcoin Mining
By all means, cloud mining was the most obvious response to the customers’ demand. As mining equipment got more expensive, mining itself was at risk of becoming a very exclusive hobby. The problem is, that this stalled Bitcoin’s adoption. The fewer people could afford it, the less interested the audience became. But cloud mining services came to the rescue offering Bitcoin mining for beginners.
The premise of cloud mining is mining via a contract. You support the company by renting a portion of its mining power. And the company pays you a percent of their mining rewards. It’s easier for a big project to get access to wholesale prices on electricity, to hire a maintenance crew, and to find a good warehouse to run their data center. That’s something only wealthy Bitcoin aficionados can afford. With cloud Bitcoin mining, regular users could finally get access to that as well. But yet again, nothing was as seamless as expected.
Cloud mining by design allows a company to neglect transparency. No one is obligated to provide honest information about the company’s mining rewards, so the customer is left at the mercy of the company owner. While the contracts are often cheap, they have to last at least a year and in this year, the user has zero control over their mining operation. It’s like renting a house with a strict contract, that prohibits you from making any changes or adjustments even if they are clearly needed. The malicious cloud mining companies resulted in a big hit on the reputation of the whole idea, having users wonder ‘Is bitcoin mining a scam?’.
That, of course, didn’t do any good for the Bitcoin and crypto popularity. All the work done by the Bitcoin Mining Council could be easily undone by a few scam companies. But thankfully, there were other mining options to try.
Digital Mining: Legit Bitcoin Mining Through Virtual Apps
A relatively new addition, digital mining combines some of the most exciting DeFi practices. It’s a natural result of DeFi evolution, where NFTs get the characteristics of physical miners and represent the mining power of a physical data center. The idea was to eliminate the renting element that’s plagued cloud mining services and to add transparency as well as control over a user’s farm.
Digital miners allowed all that. With the exact estimate of the mining power you own, an understanding of the electricity and maintenance fees, and an overview of your rewards, it’s possible to make adjustments and take advantage of the farm. It doesn’t hurt that miners can be added and upgraded, while special collections always provide extra features.
If you’re getting into this solo mining Bitcoin can be overwhelming and one of the goals of Digital mining is to make the process more accessible. Digital mining often works via apps, and one of the questions users ask often is “Are Bitcoin mining apps legit?” To answer this question, you’d have to look at each app separately.
GoMining: Bitcoin Mining for Beginners
Digital mining is best illustrated by a quick GoMining review. We’ll go over some things and answer questions like what is GoMining, is GoMining legit, and what affects the GOMINING price changes.
The first digital miner collection was released in 2022 and is still in high demand among Bitcoin mining enthusiasts. The Greedy Machines gave users exactly what they were looking for with other Bitcoin mining options. Only this time, they could have it in the form of a GoMining NFT and an easy-to-use GoMining app.
How Does GoMining Work
GoMining login is simple with automated methods such as Google or Apple account, or by using your hot wallet. After you register, you are free to use all the features of the app. And before you begin wondering “is GoMining app legit,” we have to add that it’s been around for several years and gotten great feedback from users. Searching “GoMining trustpilot” is a simple way to verify that.
Every one of the miners, whether they belong to a collection or not, is connected to physical data centers run by certified service providers. After buying an NFT digital miner, the user doesn’t need to pay anything in addition. There are, of course, maintenance fees but they can be covered by the mining rewards that the user receives daily.
Solo Bitcoin mining is the default mining mode. As soon as the miner is created or bought, it starts mining BTC for its owner. The rewards are accrued on the in-app wallet.
Withdrawing the rewards from the wallet can be done either automatically as soon as the minimum withdrawal amount is reached, in which case users don’t need to pay fees, or manually but fees in this case, apply. To help assess potential rewards, users can take advantage of the Bitcoin solo mining calculator on the GoMining page.
Another available mode for mining Bitcoin is Miner Wars — an online game. The game is clan-based and follows the principle of mining pools, except for adding a competitive element. This helps to increase mining rewards for winners and makes the process more entertaining.
The mechanics allow users to combine their mining power as they’re joining a clan.
Each clan then competes with others in one of the two leagues (Starter or Pro league). The goal is to add a new block to the Bitcoin Network before anyone else. There are boosts and spells that teams can use to succeed, but mostly, their collective mining power is what decides the outcome.
The Miner Wars game is still legit Bitcoin mining but instead of wondering how to join a Bitcoin mining pool or where to find the best Bitcoin mining pool, players have a whole community available to them.
GoMining is an ecosystem, which means that aside from its primary purpose — mining Bitcoin — it provides users with additional features.
One such feature is GoMining Launchpad. It is a platform where Bitcoin-related project can get their start. By helping them reach users who are interested in buying tokens during presales, GoMining helps to expand BTC adoption.
Another feature is the GOMINING token. The native token is used for various purposes:
- Receiving a discount on maintenance
- Holding tokens
- Locking to receive votes and govern the platform
- Getting access to the projects on the crypto launchpad
GOMINING token price heavily relies on its versatility, this is why the tokenomics system develops and changes over time.
Aside from that, GoMining offers special features that help improve users’ mining results. For instance, GoMiners or Avatar Collections serve that exact purpose.
Is GoMining Worth It?
Digital miners are one of the most innovative mining mechanisms. It expands the audience interested in mining. Due to the simplicity and low entry barrier, users can try mining and decide whether it’s something they might want to continue.
- GoMining requires no commitment: neither in terms of time nor large financial investments.
- The project provides easy entry and exit, users can buy and sell miners at any time.
- Maintenance is taken care of by the company, the fees are deducted from the mining rewards.
- Users actually own their miners and are free to upgrade them, buy additional ones, or sell them.
- There are many ways to turn a profit and reinvest your rewards. For example, the GoMining Launchpad essentially serves as a Bitcoin mining ETF.
- There are no withdrawal fees with automatic withdrawals.
- All physical data centers provide high-end ASIC devices and update their farms regularly.
- Electricity fees are lower due to wholesale prices and users don’t have to worry about housing the equipment. So the cost of Bitcoin mining is lower than with the traditional model.
- Every action is available through the GoMining app.
- A GoMining promo code, free miner, or tokens can always sweeten the deal for a new user.
Before we turn the article into a GoMining app review, we still need to address the title question:
How profitable is Bitcoin mining with digital miners, or rather, is Bitcoin mining still profitable at all? Digital miners do reduce the costs on the user’s side, but if we look at the numbers that the mining calculator shows, the results are pretty much similar to those of an ASIC. The only difference is the simplicity of the former method.
Is Bitcoin mining safe?
With the available mining methods, many users wonder whether it’s safe to put their money into a side project and rely on it to deliver results. The risks are different with various types of Bitcoin mining, the most responsible thing you can do is pace your expectations, invest only as much as you can afford to lose, and do thorough research before committing to one method. That’s why it’s always a good idea to check GoMining reviews and ask important questions such as “is Bitcoin mining app legit?”
Another issue to consider is your mining strategy. Everyone goes into Bitcoin mining with different resources and expectations. Those who want to start small can benefit from a trial period. It’s a great opportunity to learn how mining works because at the end of the day, you always have to decide for yourself is it worth mining Bitcoin.
Is Bitcoin mining still profitable in 2025? Bitcoin has never been a way to earn fast and easy. Even when it relied on simple math, and more power was equal to more rewards, there were still side issues like the low price of BTC. No wonder early adopters could easily spend 200 BTC on a pizza or another impulse purchase.
But therein lies the secret — Bitcoin mining is never a sprint, but a marathon. It’s a long-term process that investors in many ways understood better than tech-savvy developers who were interested in BTC early on. It’s currency so it plays by the same rules. That’s why every time you wonder, “Is mining Bitcoin profitable?”, you have to ask yourself, whether you are prepared to commit to this operation and make it a long-term plan. We don’t know for sure if tomorrow or next week BTC price will grow twice.
It’s certainly a possibility, but today we can say with certainty that there are ways to turn a Bitcoin mining hobby into a steady source of income.
February 28, 2025
