Solo Mining: A Guide to Maximizing Your Rewards in the GoMining Game
With GoMining, anyone can start earning from Bitcoin mining. GoMining rewards their NFT holders with daily Bitcoin rewards from mining without requiring any users to run their own mining equipment.
It doesn’t stop there. GoMining NFT holders get the opportunity to increase their rewards output with GoMining’s very own online NFT game. Specifically, users can participate in the Solo Mining game mode. The game mode allows NFT holders to increase their rate of daily income through passive strategies that earn them discounts on their mining fees.
The Solo Mining NFT Game Mode
Inside the GoMining app, users can enter the NFT Game on the left-hand side bar.
- Here, click into the Game button.
- Users first starting out will have only the Solo Miner game mode activated. Click Choose on the game mode.
Once inside the game, the user will encounter a new screen that displays their current “Mining farm”, which is visualized through a hash board.
- The game lets users view their mining farm’s level, discount rate, total earnings.
- The mining farm level is tied to the hash power of all NFTs in a wallet. Levels begin at 1 and go up to 20 based on the sum of total TH/s.
- The discount rate on electricity is determined through a combination of factors, such as mining farm level, how mining fees are paid for, and how often the mining farm is serviced.
- Each day, a user can Service their NFT, which activates a 0.3% discount on the mining fees. Doing this consecutively each day will compound the discount, with a max discount saving up to 3% per day.
2. Click on the Service button to activate the discount.
- Users can also view their maintenance discount in detail by clicking the More button.
Here, the discount is broken down into four parts, each with their own discount strength, specifically:
- Level discount: discounts earned by the level of the mining farm, which can discount up to 6% per day.
- Service discount: clicking Service consecutively, which can discount up to 3% per day.
- GOMINING discount: if you pay mining fees with GOMINING, which discounts 10% per day.
- Extra discounts: determined discount from ve voters.
Strategies for Maximizing Discounts
The best way to play Solo Mining is to aim for the highest possible discount. Each method has their own difficulty and effectiveness.
#1 — Pay Fees With GOMINING
By paying the daily mining fees with GOMINING, users access a 10% discount. This is by the far the largest discount among all available discounts for a user.
It is highly encouraged to use this method, as all it requires is holding a balance of GOMINING in your wallet and selecting GOMINING as the form of fee payment.
#2 — Service discount
This is another simple method that earns a decent discount if consistently executed. All a user has to do is go to the NFT game once a day and click Service to earn 0.3%. If done consecutively after 10 days, the discount can max up to 3% per day.
This method doesn’t cost any money and is the most accessible tool for users.
#3 — Level Discounts
Level discounts are directly tied to a user’s mining farm power. This method costs money, so consider the impact of this discount when expanding or procuring more GoMining NFTs.
Below are the game levels, the required TH/s to achieve each level, and their associated discount. In total, a user can earn up to another 6% in discounts through their NFT game level.
Each level increases the discount by 0.3%. For users that have large mining farms, this discount can be critical to saving that extra bit on costs. For beginner users, it is important to consider the opportunity cost of the discount vs. the amount of dollar spent.
For example, it is relatively affordable to get 10 TH/s across a few NFTs. However, the cost to jump from 10 TH/s to 50 TH/s is going to be very expensive in comparison to the additional 0.3% discount gained. Consider your required expenditures vs. the discount you’ll gain when increasing levels.
#4 — Extra Discounts
Lastly, extra discounts are determined by community votes through veGOMINING votes. The last burn and mint cycle saw almost 50% of users select Extra solo mining discount. As of October 31, the vote outcome now accounts for an additional discount of 2.48% for all solo miners.
In total, a user can earn over 20% in discounts using these four methods.
Play the Game to Passively Earn More Bitcoin
Thanks to GoMining’s NFT game, solo miners have a chance at better returns on their Bitcoin mining. This is thanks to the multiple ways that users can earn discounts on their mining fees. Consider the strategies in the NFT game that are most available to you, and take advantage of the discounts to maximize your GoMining NFT’s earnings.
Check out the full GoMining NFT FAQ here. The FAQ goes over both the solo mining game mode, as well as details regarding the pool mining game mode.