GoMining, an infrastructure company that facilitates access to Bitcoin mining, has successfully raised $3 million in a funding round led by the international venture capital fund, Bitscale Capital.

Bitscale Capital’s investment entails acquiring $3 million worth of equity in the form of GOMINING tokens, the native cryptocurrency of the GoMining ecosystem, and a collection of NFTs.

These NFTs represent shares of GoMining’s extensive digital Bitcoin mining infrastructure across nine global data centers.

This funding is aimed at enhancing GoMining’s mission to offer a simplified and user-friendly gateway into Bitcoin mining, encouraging broader participation in the pursuit of ‘digital gold.’

GoMining’s unique approach involves the Liquid Bitcoin Hashrate (LBH) protocol, where NFTs correlate with actual shares of the company’s Bitcoin mining power, measured in terahash per second (TH/s) and watt per terahash (W/TH).

This setup allows each NFT holder to own a portion of real Bitcoin mining capacity, which in turn generates daily Bitcoin rewards.

This model simplifies the otherwise complex and costly process of cryptocurrency mining by eliminating the need for individual setup and maintenance of mining hardware.

With an ambitious target to increase its total generated hashrate to 25 million TH/s by mid-2025, GoMining plans to expand its current data center infrastructure and establish new facilities in North Africa and the Middle East later this year.

This expansion is part of GoMining’s strategic initiative to enhance its mining capacity and improve service offerings to its users globally.

The GoMining model not only frees users from the hefty initial costs associated with crypto mining but also from ongoing maintenance worries.

NFT holders are responsible only for the electricity costs, which are among the lowest in the industry, and can enjoy additional discounts by paying with GOMINING tokens.

The platform’s user experience is further enriched through a gamified interface that allows miners to employ various strategies and engage in community voting.

GoMining’s novel approach has drawn attention within the broader crypto community, evidenced by the launch of the first collection of NFT miners on the TON blockchain.

Plans are underway to further integrate with the TON ecosystem, which will potentially broaden Bitcoin mining access to one of the most active blockchain communities.

Mark Zalan, CEO of GoMining, said,

We are delighted to announce the commencement of our partnership with Bitscale Capital and the successful raising of $3 million in investments, which will be directed towards further development of our project.

He highlighted the alignment between the investor’s confidence and the institutional market’s acknowledgment of GoMining’s innovative solutions.

This significant investment marks a pivotal point for GoMining as it continues to push the boundaries of what is possible in the Bitcoin mining space, making it accessible and profitable for a wider audience.

The post GoMining secures $3 million investment from Bitscale Capital to expand innovative Bitcoin mining protocol appeared first on Invezz

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