GoMining presents itself as a “turnkey” solution for mining Bitcoin. No need to install a server or live at the bottom of a hydroelectric dam to benefit from a favorable electricity price; GoMining takes care of everything. I was skeptical from the start. Indeed, the interface is full of useless gadgets, worthy of a Christmas tree. However, the promise of an announced financial return of more than 40% on invested capital encouraged me to give it a try. My opinion on GoMining and my feedback on this mining solution:
If you’d like an independent review of GoMining, check for a promo code. If so, move on!
Contents
What is mining?
Mining is the use of specialized computers to validate Bitcoin transactions and secure the blockchain. In exchange, miners receive a reward in Bitcoins.
How does GoMining differ from traditional mining solutions?
With a user-friendly interface, GoMining makes investing simple. You buy a miner. The purchase price of the miner varies depending on its computing power. Once purchased, the miner mines Bitcoin and earns rewards. These Bitcoins are stored in a wallet, and you can withdraw them at any time. What’s more, the interface is simple, almost playful. It feels like you’re playing The Sims.
The advantages highlighted by GoMining
A high advertised return
The advertised returns are around 40% per year. This is enormous when compared to the traditional financial market (around 8% per year). A miner would therefore be repaid within two to three years. Furthermore, GoMining encourages you to improve this profitability with its GoMining tokens.
Exit at any time
There is a second-hand market where you can buy old miners. The interest seems relatively low; most of the miners offered have a lower profitability than a brand-new miner. Moreover, you will have to purchase it using GoMining tokens.
Payment
Payment can be made either by credit card or directly in cryptocurrency. Crypto payments are fee-exempt, while credit cards incur a 4% transaction fee. I paid in BTC to avoid fees and measure my investment outside of Bitcoin price fluctuations.
Collecting your rewards
The rewards are added to a wallet daily. Once you have enough BTC (0.00007 BTC, or €7 at the current exchange rate), you can withdraw your BTC to a Cold Wallet or the Wallet of your choice. This has been tested and is working correctly.
The Roots of Doubts: Weak Signals
- Mining is a real-world activity, risky, with unpredictable returns that are often negative. How and why would GoMining outperform the market?
- The advertised return (over 40%) is too high, and therefore suspect.
- The interface is too flashy: too many gimmicks and colors, to be honest.
- Companies based in the British Virgin Islands: “BMINE BVI LIMITED, Trinity Chambers, Road Town, Tortola, British Virgin Islands VG 1110” or “GoMining (BVI) Limited, Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands, BVI Company Number: 2110978”.
- To date, there is no verifiable evidence confirming that GoMining operates a real mining operation or that the distributed profits come from actual Bitcoin production.
The Perennial Confusion: Bitcoin Price and Mining Profitability
Since its inception, Bitcoin’s price has been steadily rising. As of the date of this article, its value hovers around €100,000. But whether Bitcoin rises or falls does not inherently change the profitability of mining. To see this for yourself, invest in Bitcoin and measure the profitability in the same unit of measurement (Bitcoin). GoMining theoretically generates Bitcoin for you every day. If you invest in another currency (euro or dollar), the change in Bitcoin’s price can be likened to currency risk.
Therefore, distinguish between profits from mining and those from changes in Bitcoin’s price. To convince yourself, you need to compare an investment in GoMining mining with a purchase of Bitcoin over the same period.
Our Opinion on the GoMining Terms of Service
Our Opinions on the GoMining Terms of Service:
BTC Payments Not Guaranteed: Section 2.4 “Miner Bonus”
The bonus miner is provided to you at the sole and absolute discretion of the Company. The bonus miner can be forfeited at the sole and absolute discretion of the Company at any time both for cause and for convenience without any compensation from our side.
Unilateral Modification of Tasks and Conditions: Section 2.4 “Miner Bonus”
The Company, at its sole and absolute discretion, may change / replace tasks. You do not have and shall not have any claims to and/or against the Company by virtue of ownership of Bonus Miner.
In summary, the GoMining Terms offer maximum protection for the Company and total risk for the user, with non-guaranteed income, locked liquidity, and unilateral clauses.
Calculate the real profitability of an investment on GoMining
The profitability advertised by GoMining is approximately 40% return on investment. Indeed, this may seem attractive at first glance, and I was drawn into this system. Except that what GoMining doesn’t inform you is that this profitability will definitely decrease over time due to the theoretical difficulty of Bitcoin mining.
In fact, mining difficulty automatically adjusts the computational complexity required to validate a block to maintain a rate of approximately one block every 10 minutes. Every 2,016 blocks (approximately 2 weeks), the network re-evaluates this difficulty: it increases if blocks are solved too quickly and decreases if they take too long, ensuring the stability and regularity of the blockchain’s operation.
Assumptions
- 1% decrease in monthly yield due to increased mining difficulty.
- Next halving date: 01/07/2028 (rewards halving).
Negative profitability over 6 years
| 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | TOTAL | |
| Annual Gains in BTC | 0.00045459 | 0.00153145 | 0.00107236 | 0.00048865 | 0.00007709 | 0.00000000 | 0.00362414 |
| Earnings (in euros) | 44.55 € | 150.08 € | 105.09 € | 47.89 € | 7.56 € | 0.00 € | 355.17 € |
| Initial investment: | 374.92 € | ||||||
| Loss of: | – 19.75 € | ||||||
| % gain/loss investment | – 5.27% |
GoMining Profitability Review:
100% Negative: Contrary to what GoMining claims, it is virtually impossible to make a profit due to the internal profitability of mining and the associated costs. Our advice: don’t get involved! If you want to invest in Bitcoin, don’t mine it, especially with GoMining, but buy Bitcoin.
Bonus: How does GoMining have all the characteristics of a Ponzi?
In addition to being a bad investment, GoMining exhibits all the hallmarks of a Ponzi scheme. A Ponzi (or Ponzi scheme) is a financial scam based on a lie. Instead of paying investors the promised profits through real economic activity, the company pays existing investors with the money of new ones.
The GoMining system is maintained by influencers like Victor Ferry, who use their notoriety to promote their affiliate code. This code allows Victor Ferry to benefit from a profitability twice that of an average individual. This profitability is entirely artificial as it is not based on the product’s fundamental qualities but on the profits generated by new entrants.
And, he’s not the only one, all YouTube influencers promote their promo codes. In fact, I haven’t found a single one who doesn’t.
Inventory of the most important:
@JamesParkerPRO – 439k followers
@gomining_official – 230k followers
@Amrhamedtv – 162k followers
@victorferrybusinessnews – 79.2k followers
@TheCleverMillionaire – 69.8k followers
@Cryptoscobra – 13.9k followers
Another equally problematic point is the famous GoMining Token, promoted by the platform, and which has all the characteristics of a “Shitcoin.”
Video: Is GoMining a Scam or a Ponzi?
Frequently Asked Questions (FAQ) about GoMining
Other articles on Bitcoin and cryptocurrencies
We’d love to hear your thoughts and feedback on the GoMining platform:
Please share your thoughts in the comments. Thank you.
