Cryptocurrency mining has been popular for years now, which is not surprising given the fact that the crypto industry had two massive rallies over the last 4 years. While they were separated by a long and difficult crypto winter, that just means that miners had a long time to accumulate a lot of their preferred coins before the next price surge arrived, allowing them to become quite wealthy.

However, while mining is profitable in the long term, it still has its problems, with the main ones being the high cost of equipment and electricity. There is nothing that can be done regarding the equipment, apart from choosing to mine a less popular coin, that can still be mined with CPUs and GPUs. But, these coins typically don’t see massive price increases. As for electricity, a lot of miners moved to different countries, which could offer cheaper bills, such as China. 

Of course, China recently cracked down on miners, so it is no longer an option, and it still remains to be seen where the miners will migrate to next. Meanwhile, there are several companies that are trying to reduce the difficulty of getting into mining, such as GoMining, which recently created its own token — GMT.

What is GMT and What Does it Do?

GMT is a unique token, created by the GoMining project. It brings several advantages to its users, such as the ability to mine it without expensive gear or massive amounts of electricity. This automatically also makes it more eco-friendly, and it makes it possible for both experts and newbies to get into mining at any time.

The token is unique for a number of reasons, including its constant modification, as well as the way it works. According to the project, each GMT is backed by real computing power of the project’s mining fleet of devices. This helps increase the project’s price, and it also allows users to get daily income in BTC without having to buy expensive gear and get huge electricity bills by mining BTC directly.

Of course, without expensive gear, there is also no need to pay massive amounts for maintenance. GMT solves all of the issues tied to traditional crypto mining.

We mentioned that the coins are backed by constantly growing computing power, measured in TH/s, or terahash per second, via the SHA-256 protocol. So, by purchasing 1 GMT, the user gets the real computing power of the project’s fleet of devices, which is already involved in Bitcoin mining.

This is a lot more profitable than traditional mining, and even cloud mining, which consists of investing a certain amount in a mining company, which uses the investment to pay for the equipment, maintenance, electricity, and more. Meanwhile, the user gets a portion of mined coins, after the mining has been completed. There is limited time to cloud mining, however, which is not the case with GMT. The user can own the token for an unlimited period of time, and as long as they do, the token will essentially continue to mine BTC.

GMT’s own supply continues to grow further, and every week, its team is bringing new capacities, issuing tokens proportionally to those capacities, and more. Following these additional issuances, the team burns anywhere from 20% to 90% of re-issued tokens, while the released capacity gets redistributed between token holders. The result is constant income growth for the investors.

And, since the project is much more environmentally friendly than the likes of Bitcoin, there is no need to worry about its negative impact on the world. Over the next few years, the company plans to increase the supply capacity of GMT several times. The big aim for GoMining is to provide 20% of the world’s BTC mining.