Gomining Townhall Q4

The Spaces outlines GoMining’s refined mission and product roadmap to “Earn Bitcoin, Use Bitcoin — in one application,” presented by Chief Product Officer Dan with host Yan. The team is evolving from pure mining into a broader Bitcoin finance ecosystem that removes fragmentation and makes Bitcoin productive and practical. Highlights include “Mine Now, Pay Later” (installment-based digital miner purchases with no interest and immediate mining), GoMining Crypto Cards (virtual Visa via Unlimit with auto crypto-to-fiat conversion and cashback converted into mining power), Simple Earn (no-lock yield on idle assets with all rewards paid in BTC), and a lending protocol (use digital miners and BTC as collateral to borrow USDT/USDC). They also preview GoMining Travel (bookings paid with crypto and cashback in terahashes), a B2B “Hashrate as a Service” offering (APIs/white label for partners to embed mining), and a non-custodial Web3 Bitcoin wallet (optimistic rollup-style relay enabling instant, low-fee payments; prototype demo slated for February; launch targeted Q1 2026). Metrics shared include 4.6M registrations, 11.2M TH total hashpower, 300k+ digital miners sold, a 15% increase in miner holders in three months, and 800k miner upgrades. A community giveaway celebrates 200k Twitter followers.

GoMining Product Town Hall: Mission, Roadmap, and Feature Deep Dive

Participants and Context

  • Host: Yan (GoMining)
  • Guest: Dan (Chief Product Officer, GoMining)
  • Referenced: Mark (CEO, GoMining)
  • Occasion: Quarterly product town hall. Opening noted the milestone of 200,000 Twitter followers and an ongoing trivia/giveaway. The session aimed to clarify GoMining’s mission, product roadmap, and upcoming releases across eight categories.

Mission Refresh: "Earn Bitcoin, Use Bitcoin — One Application"

  • Strategic shift: GoMining is evolving from a pure mining company into a comprehensive Bitcoin ecosystem. The central promise is to make Bitcoin productive and practical in everyday life, minimizing fragmentation across tools and services.
  • Problem framing (Dan): While interest in Bitcoin is massive, actual usage is complicated—spread across disparate systems and specialized processes. As a result, assets often sit idle instead of working for users.
  • Mission statement: Help people everywhere unlock Bitcoin’s full potential. Consolidate mining, spending, and yield into a single, secure application.
  • Scale and traction:
    • 4.6 million registrations
    • 11.2 million terahashes of total hash power
    • 300,000 digital miners sold

    • +15% increase in miner holders over the past three months
    • 800,000 upgrades to existing digital miners

  • Foundational pillars:
    • Earn Bitcoin: Digital mining made easy; GoMining manages hardware, electricity, maintenance.
    • Use Bitcoin: Seamless spending via GoMining cards and integrated services.
    • Grow/Optimize: Passive yield via Simple Earn, financial flexibility via collateralized lending.

Mine Now, Pay Later (MNPL)

  • Concept: A BNPL-style financing tailored to digital miners—"Mine Now, Pay Later"—to lower barriers to entry.
  • Mechanics:
    • Term: Pay in installments over up to 90 days.
    • Down payment: Minimum 25% of total cost.
    • Structure: Typically four equal installments, no interest or finance charges; total never exceeds the upfront price.
    • Activation: Upon the first payment, the digital miner is issued to the user’s virtual wallet; daily Bitcoin rewards begin immediately and are withdrawable from the first reward day.
    • Restrictions (until fully paid): Upgrading power/efficiency, reinvesting into terahashes, selling/transferring the miner are locked until all installments are completed.
  • Rollout: Begins November 20 (rolled out in portions; global availability expected progressively toward end of November).
  • Payments:
    • Phase 1: Fiat payments.
    • Phase 2: Crypto installments targeted for Q1 2025.
  • Entry point: Targeting a very modest budget; Dan indicated the ability to start from approximately $6–$7.
  • Impact: Pioneering BNPL applied to productive digital assets in the mining space, giving everyday users immediate access to mining rewards with much lower upfront cost.

GoMining Cards (Visa, via Unlimit)

  • Product: Virtual debit Visa card (initially), with seamless crypto-to-fiat conversion at point of sale.
  • Core features:
    • Hold Bitcoin and other supported crypto in the GoMining platform.
    • Spend in fiat without manual exchanges or pre-withdrawals; conversion happens instantly at payment.
    • Full card management inside the GoMining app (balances, transactions).
  • Cashback-to-hashpower loop:
    • Every purchase generates cashback that is automatically converted into mining power (terahashes).
    • Outcome: Daily spending incrementally increases the computing power of your digital miner, reinforcing passive Bitcoin income.
  • Availability:
    • Phase 1: Virtual Visa for EU residents.
    • Future: Physical cards (plastic and metal), in-person purchases and ATM withdrawals supported.
    • Expansion: Ongoing partnerships to enable global availability, including the US.
  • Strategic value: Bridges mining and real-world finance; transforms Bitcoin from a held asset into a usable currency, while boosting mining capacity through everyday spending.

Simple Earn

  • Goal: Make idle crypto productive with simple, flexible yield that pays in Bitcoin.
  • User experience:
    • One-click opt-in to direct assets into Simple Earn.
    • No lockups: Funds remain withdrawable at any time; users retain full withdrawal functionality.
    • Rewards currency: All yields/dividends are paid out in Bitcoin, regardless of the deposited asset.
  • Engine and compliance:
    • Mechanism: Aggregates user funds and routes them to staking/DeFi protocols (directly or via external providers). GoMining is a technological facilitator, not the yield guarantor.
    • Payout cadence: Rewards credited every 4 hours; funds must be held for a full interval to be eligible for that cycle’s payout.
    • Regulatory posture: Designed for compliance; disclosures clarify GoMining does not guarantee yields.
  • Timeline: Targeted for launch by end of the year (prior to the beginning of 2025).

Lending Protocol (Collateralized Loans)

  • Objective: Provide liquidity without forcing users to sell productive assets.
  • Collateral options:
    • Digital miners (NFTs backed by real computing power)
    • Bitcoin holdings
  • Borrowing:
    • Stablecoins: USDT and USDC
    • LTV and pricing: Loan-to-value calculated based on current market price of the miner and energy efficiency; clear collateral requirements and liquidation thresholds.
  • User guidance: Lending involves guardrails and risks; users should do their own research, fully understand LTV, liquidation triggers, and how market movements affect positions.
  • Timeline: ETA Q1 2025.
  • Strategic impact: Elevates digital miners from pure earning tools to recognized financial collateral, expanding user financial flexibility within the ecosystem.

GoMining Travel (White-label by Solar Tree)

  • Purpose: Introduce a compelling, everyday spending scenario—especially travel—within the ecosystem.
  • Integration model:
    • Built as a white-label module powered by Solar Tree; delivered with a native, seamless interface inside GoMining (no disruptive handoffs to third-party sites).
  • Use cases:
    • Book hotels (and later broader travel services) using crypto assets held in the GoMining wallet—Bitcoin, GoMining tokens, stablecoins, and other supported assets.
    • Cashback-to-hashpower: Each booking yields mining power (terahashes) credited to your digital miner, boosting daily Bitcoin rewards.
    • Cashback calculation: Dynamically determined based on purchase amount (USD-denominated) and VIP status level.
  • Ecosystem effect: Expands real-world utility of crypto within GoMining, increases engagement, and attracts new audiences via unique crypto mechanics.
  • Timeline: Targeting early next year (first quarter timeframe was discussed, final date TBD); Dan acknowledged date ambiguity during the session.

Hashrate as a Service (HRaaS)

  • Concept: B2B/API white-label solution that lets other companies integrate Bitcoin mining directly into their products and ecosystems.
  • Capabilities for partners:
    • Acquire and distribute hashrate to their user bases.
    • Launch new earning mechanisms, loyalty programs, and digital asset products explicitly backed by real Bitcoin production.
  • Integration toolkit:
    • Flexible API and white-label tools for reward accounting, automated payouts, upgrades, discounts—mirroring GoMining’s internal ecosystem features.
  • Market traction:
    • Several large-scale integrations underway across fintech, gaming, wallets, and trading platforms.
  • Strategic aim: Leverage GoMining’s 11+ million TH infrastructure to power external applications, making Bitcoin mining as integrable as traditional payment rails and extending access to millions of users.

Web3 Non-Custodial Bitcoin Wallet (Layered Payment Relay)

  • Current state: GoMining manages >$500,000 daily flow via custodial wallets; the next step is a non-custodial Web3 wallet focused on fast, low-cost Bitcoin payments.
  • Launch target: First quarter of 2026; a fully functioning prototype exists, with a presentation planned for February.
  • Architecture and key principles:
    • Optimistic rollup-style design: Most activity occurs off-chain with secure settlement on Bitcoin.
    • Batching and delayed settlement: Minimizes transaction costs; enables low-fee or potentially commission-free transactions without compromising security.
    • 2-of-3 multisig: Users retain full control; GoMining facilitates transactions but never holds custody.
  • Use cases and adoption:
    • Everyday payments: Aim to match the ease and speed of Visa/Mastercard for Bitcoin transactions.
    • Merchants and SMBs: Accept Bitcoin with minimal delays and fees.
    • Enterprises and governments: Streamlined crypto payment integration and transparent internal disbursements (El Salvador cited as an example context).
    • VIP incentives: Fee-free monthly transactions and exclusive perks for VIP users.
  • Partnerships: Collaboration with institutions and major market makers to ensure broad adoption and seamless integration.

Key Timelines and Milestones (as communicated)

  • MNPL (fiat installments): Rollout starts November 20 (phased release).
  • MNPL (crypto installments): Target Q1 2025.
  • Simple Earn: Target launch by end of this year.
  • Lending Protocol: ETA Q1 2025.
  • GoMining Cards:
    • Virtual Visa: EU first (near-term).
    • Physical cards: Later (plastic/metal), with global expansion including US planned.
  • GoMining Travel: Early next year targeted; final date TBD.
  • Web3 Non-Custodial Wallet: Q1 2026, prototype demo planned for February.

Practical Implications for Users

  • Lower barrier to mining: MNPL enables immediate mining rewards with reduced upfront cost.
  • Seamless spending: Auto crypto-to-fiat conversion at checkout; eliminate manual exchanges.
  • Earn while you spend: Cashback converts to mining power, compounding daily Bitcoin income.
  • Passive yield in Bitcoin: Simple Earn pays in BTC, with no lockups and simple enrollment.
  • Liquidity without selling: Collateralized loans against miners/BTC via the lending protocol.
  • Real-world utility: Book travel with crypto and earn mining power back.
  • Broader ecosystem access: HRaaS extends mining-backed experiences beyond GoMining.
  • Faster Bitcoin payments: Upcoming non-custodial wallet targets near-instant, low-cost transactions.

Open Items and Clarifications to Watch

  • Detailed cashback percentages and how VIP tiers map to mining power accrual (cards and travel).
  • Exact EU onboarding/KYC requirements via Unlimit and expansion timelines for other regions.
  • Simple Earn APY variability, supported assets, and protocol/provider list; ongoing compliance updates.
  • Lending Protocol parameters: LTV bands, liquidation mechanics, interest rates, and eligibility criteria.
  • MNPL eligibility, credit/risk policies, and regional availability.
  • Final release timing for GoMining Travel and physical cards.
  • Merchant integration pathways and fee structures for the non-custodial wallet.

Closing Notes

  • Communication: GoMining will publish recaps and guidance via blog, Telegram, and Twitter.
  • Community: Trivia/giveaway is live to celebrate 200,000 followers—winners will be announced soon.
  • Next touchpoint: Another town hall is expected around end of February to update on releases and progress.