GoMining
A real, multi-year mining product with three named smart-contract audits and a referral plan that pays on real spend rather than recruitment - attached to a Bitcoin-mining offer with no company-side redemption of principal, an advertised return of around 40% a year that its own Risk Disclosure says no product guarantees, and a corporate group whose institutional arm offers the functionally identical proposition as a private securities offering under an SEC Form D exemption notice.
GoMining takes a buyer’s capital in exchange for a Bitcoin-mining return an independent reviewer reports was advertised at around 40% a year, keeps full control of the underlying hardware, and gives the buyer no right to redeem principal - the way out is resale to another user, on GoMining’s own marketplace or a public NFT marketplace, with a hold of up to 90 days on miners bought through Ecommpay, Apple or Google.
Can you actually make money with GoMining?
No. GoMining publishes no figure at all for what its buyers or referrers keep after fees - no median, no average, no breakdown by group. What it does publish points the other way: a fee taken every day whether or not that day's mining reward covers it, a site footer that warns "Rewards may be lower than applicable fees," and a Risk Disclosure saying no product guarantees any return. The roughly 40% a year a reviewer saw advertised is not something the company owes anyone, and that reviewer's own six-year model of a real purchase ends in a 5.27% loss.
Money comes back two ways. The first is the mining reward on a Digital Miner NFT you buy, paid daily in Bitcoin after electricity and service fees come out. The second is the referral plan: 5% at Bronze up to 15% at Legend/Elite of what a direct referral spends on miners and upgrades, plus 10% of a referral's Simple Earn yield, 2.5% of their in-game spend, a $20 card bonus, and $0.005 per kWh for Ambassadors. Nothing is paid just for signing someone up.
Being in means owning a miner, and staying in means paying for it daily. The service charge is $0.0089 per TH per day and electricity runs $0.05 to $0.07 per kWh, about $0.0269 per TH per day for a 15 W/TH miner at the low rate (our arithmetic: $0.0089 plus roughly $0.018 of electricity). Paying by card adds 4%. Refunds close 48 hours after purchase. After that, the only way out is selling the miner to another user, with holds of up to 90 days on some payment methods and a 5% fee on GoMining's own marketplace.
On the people already in, the company offers only totals: 6,165 BTC "Total mined," and more than $500,000 paid over a year to "5,000+ referrers," which is at most about $100 per referrer (our arithmetic: $500,000 divided by 5,000), with no median beside it. The good parts are real. Referral pay rides on actual spending, the top royalty tier is reachable by owning hashrate with no recruiting, three named firms have audited the contracts, the fee formula is published in detail, and a reviewer who bought a miner withdrew Bitcoin without trouble.
4% fee on credit-card-funded purchases and none on crypto, per an independent reviewer’s October 2025 test purchase; miners bought through Ecommpay cannot be resold for 90 days, and Apple and Google in-app purchases can take up to 90 days to verify before resale; purchases are generally non-refundable, but the Refund Policy accepts a request GoMining receives within 48 hours of the transaction, subject to KYC and its eligibility criteria
- A disclosure of what participants actually net. If GoMining published returns after maintenance fees, even as an aggregate by cohort, there would be a number to judge. Today none exists on its own domain, in any SEC filing or anywhere else the research looked, so the only figures are company totals and one reviewer's model.
- A return the company stands behind, or an end to advertising one. A reviewer reports around 40% a year was advertised, while the Risk Disclosure says no product guarantees any return. Either that number gets a written obligation behind it or it comes out of the marketing.
- A way to get principal back from the company itself. Right now the 48-hour refund window is the only company-side exit. After it, capital returns only if another user buys the miner, on a marketplace the Terms warn "may be no secondary market for the assets at all."
- Outside proof that the hashrate and the payouts are what GoMining says. No proof-of-reserves attestation or facility audit confirms the more than 17 million TH/s users are said to own, and no audited financial statement shows payouts coming from mining revenue rather than from new buyers' purchase money.
- Fixed terms in place of terms GoMining can rewrite. The Terms can be amended at any time, much of the fee schedule and royalty ladder lives on help-center pages, Ambassador status is "not a contractual entitlement," and GoMining reserves the right to set an individual user's referral rate as low as 0%.
That call is computed, not chosen - the rule reads three of the nine published dimension scores and is printed on the methodology page. It describes this company's plan and the figures it publishes about the people already in it. It is not a prediction about you, and nothing on this site is advice.
Legal status
LEGAL BUT UNRESOLVED - no court, criminal charge, indictment, or securities-regulator enforcement action against GoMining, GoMining Cyprus, GoMining BVI, BMINE, or GoMining IM could be located anywhere in this research, and an SEC EDGAR full-text search returns a complete result set with no enforcement document naming any of them. The Form D that GM Alpha Blocks US Fund LP filed on 29 July 2025, which names GoMining IM (BVI) Ltd. as its Investment Manager, is a routine notice of an exempt private-placement offering - a transparency filing, not an enforcement matter, a sanction, or an admission of anything. Separately, the Bank of Russia’s list of entities with detected signs of illegal activities in the financial market carries an entry for GOMINING.COM, dated 11 March 2025, under "Signs of financial pyramid." The entry records signs the Bank of Russia says it detected; it is a warning-list entry by a foreign central bank, not a court finding, and the Bank of Russia states that an entity put on the list has the right to challenge this.
Confidence: Medium
Primary sources fetched directly where possible. Everything we could not verify is listed at the bottom of this page by name.
Follow the money
A Cyprus/BVI corporate group selling "Digital Miner" NFTs - BMINE (BVI) Limited-issued tokens that represent an economic claim on a slice of Bitcoin-mining hashrate GoMining says it hosts in its own data centers - alongside a GOMINING utility token, an in-app "Simple Earn" yield feature, a gamified "Miner Wars" mini-game, and a VIP-tiered referral program paying royalties on a direct referral’s real spend.
The real parts should be said first. GoMining reports operating since 2021 with a "5M+ strong global community" of customers, 6,165 BTC self-reported as "Total mined," and three named third-party smart-contract audit firms - CertiK, HashEx, Cyberscope - with publicly posted reports, rather than an unaudited token. It publishes an actual formula for what a buyer nets - pool reward minus electricity and service fees - and a full table of maintenance-fee discounts for paying in its own token. An independent reviewer who bought a miner reports that withdrawals genuinely work.
Then the structure. A buyer’s money converts permanently into an NFT whose underlying hardware and operations GoMining alone controls; there is no company redemption of principal, and the only exit is resale to another user, on GoMining’s own Secondary Marketplace or a public NFT marketplace, with a 90-day lock on miners bought through Ecommpay, a verification hold of up to 90 days on Apple and Google in-app purchases, and an independent reviewer reporting low resale interest. GoMining’s Risk Disclosure says no product guarantees any return, while that reviewer reports an advertised return of around 40% a year.
And the corporate group’s institutional arm sells a version of the identical proposition - capital in, Bitcoin-mining yield out, entirely company-managed - as a private securities offering, through a fund Cointelegraph reports targets $100 million and whose Form D gives notice of an offering exempt from SEC registration. That filing is a genuine transparency positive on its own terms; it also shows the operator’s own institutional structuring treats this economic shape as investment-contract-shaped, which is the central fact this report weighs under `sec`.
Daily maintenance and electricity fees are charged in Bitcoin regardless of whether that day’s mining reward covers them, and no income or return disclosure of any kind exists anywhere GoMining publishes.
How the disclosed daily maintenance fee splits
GoMining’s own published net-reward formula (PoolReward minus (Electricity + Service) times (1 minus Discounts)) and its documented per-TH rates: a $0.0089 daily service charge and electricity at $0.05 to $0.07 per kWh, shown here for a 15 W/TH miner at $0.05 (our arithmetic). This is the fee split only, not a breakdown of participant outcomes - no income or return disclosure of any kind exists to build a participant-outcome split from, which is the finding graded under `partecon`.
| Product | Price | Pays |
|---|---|---|
| Digital Miner NFT The core product: an NFT issued by BMINE (BVI) Limited representing an economic claim on hosted hashrate. GoMining’s Terms say ownership of a miner "entitles the user to a specific capacity of physical mining hardware," which GoMining operates. |
Variable, priced per TH one-time purchase |
5-15% mining royalty to a referrer |
| GOMINING token Utility/governance token for fee discounts, veGOMINING staking votes, and marketplace spend. CertiK Skynet showed a 75.41% Major Holding Ratio on 28 October 2026; Cyberscope lists the contract as not ownership-renounced. |
Market price, $0.3797 on CoinGecko, 13 October 2026 ongoing |
2.5% of the GOMINING a referral spends on Miner Wars boosts |
| Simple Earn An in-app yield feature the Terms describe as a protocol pass-through service; any APR GoMining displays for it is defined as "a forward-looking and purely indicative metric," and no historical rate was located in this research. |
Variable deposit ongoing yield |
10% royalty on a referral’s use |
| VIP royalty tiers (Bronze through Legend/Elite) The top tier is reachable through owned hashrate alone, with no recruiting requirement - a structurally important fact under `comp`. |
No separate fee - earned by hashrate owned, veGOMINING votes, or referral activity; a paid Platinum+ subscription also unlocks the Platinum I rate ongoing |
5% / 7% / 9% / 12% / 14% / 15% mining royalty by tier |
| Bonus Miners Non-transferable, non-sellable, non-withdrawable, and modifiable or discontinuable by GoMining at its sole discretion; rewards not used within 90 days may expire. |
Free, promotional as awarded |
— |
| GoMining Card One of several smaller referral overrides alongside the mining royalty and Simple Earn override. |
— once per new referral |
$20 bonus to the referrer once the referral’s card spend reaches its first $100 |
| Ambassador status Explicitly defined in GoMining’s own Terms as "not a contractual entitlement" - grantable, modifiable, and revocable at will; GoMining’s docs add that it may be assigned on a trial basis. |
Discretionary, invitation-based as granted |
$0.005/kWh electricity royalty on referrals registered after Ambassador status is attained |
| GoMining Institutional / GM Alpha Blocks Fund A Delaware limited partnership whose Form D, filed 29 July 2025, names GoMining IM (BVI) Ltd., an exempt reporting adviser, as its Investment Manager; Cointelegraph reports the fund "promises annual distributions from mining yield" - the same economic proposition as the retail product, offered as limited partnership interests in a private offering exempt from SEC registration. |
$100 million target, per Cointelegraph (April 2025); the Form D gives the offering amount as Indefinite; accredited and institutional investors only private placement |
— |
Who runs it, and what they ran before
GoMining’s own blog names him CEO and quotes him on a product launch - a named, publicly visible chief executive, which is a genuine transparency point relative to anonymous operators. His earlier career was not checked against any saved record. No regulatory action, fraud judgment, or criminal proceeding against him was located in this research.
GoMining (Cyprus) Limited operates the apps; GoMining (BVI) Limited issues the GOMINING token; BMINE (BVI) Limited issues the Digital Miner NFT that actually represents a buyer’s claim on hosted hashrate; GoMining IM (BVI) Ltd. is named as the institutional fund’s Investment Manager on its Form D. All three retail-facing entities are named and numbered, which is real disclosure - but none files public accounts. The Terms say regulated EU crypto-asset services may be performed by a "Licensed Partner" and list Unlimit Crypto Limited, a CySEC-authorized crypto-asset service provider, as one that "may act" in that role; no license held by a GoMining entity itself was located.
Named on the Form D that GM Alpha Blocks US Fund LP, the institutional Bitcoin-mining fund, filed on 29 July 2025: Fakhul Miah and Jeremy Dreier as principals of the general partner and the investment manager, and John D’Agostino as a principal of the general partner, each with a Nashville, Tennessee address. Being named on a federal filing is itself a transparency point. Their individual track records were not researched.
Registered address
GoMining (Cyprus) Limited, HE450955, Trilogy East Tower, 28 Oktovriou 339, Limassol; GoMining (BVI) Limited, 2110978, and BMINE (BVI) Limited, 2120412, both at Trinity Chambers, Road Town, Tortola
Three named, numbered entities disclosed in GoMining’s own Terms of Use - materially more corporate transparency than an anonymous operator - but every one of them is offshore, BVI keeps no public register of company accounts, and no Cyprus registrar filing, revenue figure, or audited financial statement for any entity in the group was located anywhere in this research. GoMining’s own "for investors" page discloses operating metrics - Bitcoin mined and total hashrate sold - but no revenue, profit, or balance-sheet figure for any entity. The site footer also names a Latvian company, SIA GoMining Latvia (registration no. 40203351911), as "developer and owner of the GoMining App." A fourth entity, GoMining IM (BVI) Ltd., appears on the SEC’s Investment Adviser Public Disclosure site (firm #337618) as an exempt reporting adviser with Tennessee, effective 31 July 2025, not as an SEC-registered adviser. It is named as Investment Manager on a Form D filed 29 July 2025 by GM Alpha Blocks US Fund LP, a Delaware limited partnership with a Nashville, Tennessee business address, which gives the offering amount as "Indefinite"; Cointelegraph reported in April 2025 that the fund targets $100 million from institutional investors.
The veteran's checklist
Eight questions that decide whether this is a business or a transfer mechanism. Same eight, every review.
| Question | Answer |
|---|---|
| Who legally owns it? |
WATCH
A Cyprus/BVI group - GoMining (Cyprus) Limited, GoMining (BVI) Limited, and BMINE (BVI) Limited, all named with registration numbers in GoMining’s own Terms, plus GoMining IM (BVI) Ltd. on the institutional side - none of which files public accounts.
|
| What does it really cost? |
CONCERN
A variable, per-TH purchase price, plus a daily maintenance fee ($0.0089 per TH for service plus electricity at $0.05 to $0.07 per kWh, roughly $0.0269 per TH for a 15 W/TH miner at the low rate) charged regardless of profitability, plus a 4% fee if funded by card instead of crypto, per an independent reviewer.
|
| Published income disclosure? |
RED
None. No income, yield, or return disclosure of any kind was found anywhere GoMining publishes - no median, no average net figure, no cohort breakdown.
|
| Regulatory action against the company, ever? |
WATCH
No litigated finding, indictment, or SEC enforcement action anywhere in the record. The Bank of Russia lists gomining.com under "Signs of financial pyramid" (entry dated 11 March 2025) - a warning-list entry based on signs it says it detected, not a court finding.
|
| Can the company change the deal after you buy? |
RED
Yes. GoMining may amend its Terms of Use at any time, and much of the fee schedule and royalty ladder lives in help-center pages the company can update unilaterally.
|
| Can you get your money back? |
RED
Only by a refund request GoMining receives within 48 hours of the purchase, subject to KYC and the Refund Policy’s eligibility criteria. After that, the only exit is resale to another user, locked for 90 days on Ecommpay purchases and up to 90 days on Apple and Google ones, and GoMining’s Terms warn there may be no secondary market at all.
|
| Is the underlying hashrate independently verified? |
WATCH
No. The more than 17 million TH/s GoMining says its users own and the physical facilities said to host it have not been confirmed by any independent proof-of-reserves attestation or site audit found in this research.
|
| Merchant play or securities-shaped play? |
RED
Securities-shaped. Capital is taken against a marketed Bitcoin-mining return generated entirely by the company’s own efforts, with no principal redemption right - the same corporate group offers the functionally identical proposition to institutions as a private securities offering under a Form D notice.
|
What has to be true for you to get paid
| To cover | You need |
|---|---|
| Cover the daily maintenance fee from the mining reward alone | ≈$0.0269/TH/day a 15 W/TH miner’s electricity at $0.05/kWh (~$0.018/TH, our arithmetic) plus the $0.0089/TH service charge, charged daily regardless of Bitcoin’s price or network difficulty that day |
| Reach the maximum 20% maintenance-fee discount | Prepay 360+ days of maintenance in GOMINING tokens per GoMining’s own published day-count-to-discount table; the discount scales down to 0% for a balance covering 0-17 days, which means holding a token CertiK rates Extreme in holder concentration |
| Avoid the credit-card purchase fee | Fund the Digital Miner purchase in crypto instead of by card crypto-funded purchases carry no fee versus a 4% fee on card purchases, per an independent reviewer’s October 2025 test purchase |
| Realize the advertised return of around 40% a year | No contractual entitlement to any specific rate exists GoMining’s Risk Disclosure says no product guarantees any return or level of mining rewards - the 40% figure is an independent reviewer’s account of GoMining’s advertising, not a company promise this report could find any obligation behind |
Read this twice
The first two numbers come from GoMining’s own fee documentation, the card fee from an independent reviewer’s test purchase, and the roughly 40%-a-year figure from that reviewer’s account of GoMining’s advertising rather than any company guarantee, because GoMining’s own Risk Disclosure explicitly disclaims one. The arithmetic that actually matters is the interaction between the first and the last: the daily fee is owed regardless of outcome, while the headline return is not owed at all. GoMining’s own site footer warns that "Rewards may be lower than applicable fees": the fee is set in dollars per TH while the reward is paid in Bitcoin, so a falling Bitcoin price or a rising network difficulty shrinks the reward but not the fee, and one independent reviewer’s six-year model of a purchase the reviewer made, assuming rising difficulty, ends in a 5.27% loss. No company disclosure exists to say how often that has actually happened to real buyers, because no participant-economics disclosure of any kind exists at all.
Run your own numbers
Drag the sliders. Nothing here is stored or sent.
Eight dollars thirty-three is GoMining’s own disclosed aggregate divided out: the company states "5,000+ referrers worldwide" and "more than $500,000 paid out to our partners over the past year," which implies roughly $100 per referrer per year - company-supplied, unaudited, and a per-referrer figure, so the slider counting it once per referral overstates the company’s own average for any setting above one referral - and almost certainly skewed well above what a typical referrer earns given GoMining’s own custom, higher-rate terms for top promoters and agencies. The cost line is $0 because any registered GoMining user can join the referral program, with no subscription or purchase required. This slider does not include the separate maintenance-fee drag on any hashrate you hold yourself (about $0.0269 per TH per day for a 15 W/TH miner at $0.05/kWh, our arithmetic from GoMining’s published rates), which is charged regardless of whether mining that day was profitable and is detailed in the break-even table above. Your own subscription cost of $0/mo is included.
What it costs to replace this yourself
This research did not benchmark GoMining’s disclosed fee rate against any named competing hosted-mining or cloud-mining provider’s own rate card - that comparison was out of scope for this brief and no primary competitor rate card was found to cite. What follows instead compares GoMining’s own disclosed terms against the two comparisons any buyer can make without naming a specific competitor: running the equivalent hardware yourself, and simply holding Bitcoin.
| What they sell you | What you'd use instead | Your cost |
|---|---|---|
| Digital Miner NFT - hashrate hosted and operated entirely by GoMining | Self-owned ASIC hardware, self-arranged colocation or home hosting | Upfront hardware and setup cost, plus an electricity or hosting contract negotiated directly, with no company fee layered on top |
| Combined maintenance fee - approximately $0.0269 per TH per day for a 15 W/TH miner at $0.05/kWh (our arithmetic from GoMining’s published rates) | A directly negotiated hosting or colocation contract’s own per-TH rate | Could not be benchmarked against a named provider in this research; get any hosting quote in dollars-per-TH-per-day and compare it directly against GoMining’s published figure |
| Up to 20% fee discount for prepaying 360+ days of maintenance in GOMINING tokens | Paying maintenance or hosting fees in cash as billed | No token-concentration or contract-control exposure, at the cost of forgoing the discount |
| 4% fee on credit-card-funded purchases | Funding the purchase in crypto instead | 0%, per an independent reviewer’s October 2025 test purchase |
| 90-day resale lock on Ecommpay purchases (up to 90 days for Apple and Google), no company redemption of principal, exit only by resale to another user | Buying spot Bitcoin directly on the open market | Immediate custody, no lock-up, no maintenance fee, and no NFT wrapper standing between the buyer and the asset |
| No income or return disclosure of any kind | A regulated brokerage or fund publishing an audited performance history | The comparison itself cannot be completed - GoMining publishes no net-return figure for a prospective buyer to weigh against anything |
| Total as sold A per-TH cost this research could not benchmark against any named competitor, on top of a purchase price with a 90-day resale lock and no company redemption right |
Total, built yourself Whatever a directly negotiated hosting contract or a straightforward Bitcoin purchase costs - both fully quotable and comparable in advance, unlike GoMining’s own offer |
Price-to-value
GoMining’s fee disclosure is genuinely more specific than most of this category offers, and that is a real credit. But the two comparisons a buyer actually needs - what a competing hosted-mining contract charges per TH, and what simply buying Bitcoin outright would have returned over the same period with none of the lock-up or fee drag - are not made by GoMining’s own marketing, and this research could not complete them independently either. A buyer is left comparing GoMining only against itself.
Three operators, five horizons
Probability of cumulative net profit
Hover any point for median, top decile and bottom quartile.
Pure buyer, no referrals
buys one Digital Miner, never refers anyone, pays maintenance from the mining reward
| Horizon | P(profit) | Median |
|---|---|---|
| 3 mo | 34% | −$70 |
| 6 mo | 37% | −$90 |
| 1 yr | 44% | +$30 |
| 3 yr | 47% | +$160 |
| 5 yr | 49% | +$380 |
Buyer + casual referrer (Bronze-Gold VIP)
same purchase, refers a handful of friends who buy or upgrade miners
| Horizon | P(profit) | Median |
|---|---|---|
| 3 mo | 37% | −$40 |
| 6 mo | 41% | −$30 |
| 1 yr | 49% | +$150 |
| 3 yr | 53% | +$540 |
| 5 yr | 55% | +$1,150 |
High-volume promoter (Platinum-Legend or custom terms)
builds a real referral base, negotiates custom agency terms above the published ladder
| Horizon | P(profit) | Median |
|---|---|---|
| 3 mo | 29% | −$800 |
| 6 mo | 41% | −$500 |
| 1 yr | 54% | +$1,900 |
| 3 yr | 58% | +$7,800 |
| 5 yr | 60% | +$16,500 |
Methodology note. Every figure in these three cohorts is MODELED by this report, not anchored to any company-published outcome. GoMining publishes no income or return disclosure of any kind - no median, no average net figure, no cohort breakdown - so there is no participant-economics document for this table to be built from, unlike most reports on this site. The modeling instead combines GoMining’s own disclosed fee schedule (≈$0.0269/TH/day combined maintenance, up to 20% discount for prepaying in GOMINING tokens, 4% card-purchase fee), the range between the advertised roughly 40%-a-year figure and the fee-exceeding-reward downside GoMining’s own site warns of, the referral royalty ladder (5-15% on direct referrals’ spend) for the two cohorts that recruit, and the resale-only exit with its 90-day lock. Treat the `p` figures and dollar ranges as this report’s own estimate of plausible outcomes under those disclosed terms, not as a claim about what any actual GoMining participant has earned - because GoMining itself has never published that number.
Where you are actually allowed to promote this
Platform policy reads, not verifications. Check every one before you spend a dollar - enforcement changes faster than the written policy does.
Red flags and green flags
Red flags
141No company-side redemption of principal, ever
2A 90-day resale lock on at least one payment channel
3Refunds only on a request made within 48 hours
4Extreme token concentration
5The GOMINING token contract is not ownership-renounced
6A roughly 40%-a-year return is advertised while the company’s own contract disclaims any guaranteed rate
7No income or return disclosure of any kind exists
8Daily maintenance and electricity fees are charged regardless of mining profitability
9No independent proof-of-reserves or facility verification exists for the claimed hashrate
10HashEx’s August 2023 audit lists one High and two Medium-severity findings marked "Open"
11Cyberscope’s most recent audit (October 2024) still shows two Medium findings marked unresolved
12The audit GoMining markets as current is more than five years old
13Bonus Miners are revocable at GoMining’s sole discretion, for undefined "fraudulent activity"
14Ambassador status - gating the richest referral economics - is explicitly non-contractual
Green flags
81Referral royalties are paid on real product spend, not recruitment
2The top referral-royalty tier is reachable without recruiting anyone
3Named, numbered corporate entities disclosed in the company’s own Terms
4The institutional fund has a Form D on file, not concealed
5Three independent named audit firms with publicly posted reports
6A published, formula-based net-reward calculation
7A full, specific maintenance-fee discount table
8A working, independently corroborated withdrawal mechanism
We would like to be wrong about this
Upward
- An audited financial statement for any entity in the group, showing mining revenue against the payouts made to users.
- A named, independent proof-of-reserves attestation or facility audit confirming the more than 17 million TH/s of hashrate GoMining says its users own actually exists at the scale claimed.
- Publication of a genuine participant-economics disclosure - even an aggregate one - breaking out net returns after fees by cohort, and a current audit replacing the stale 2021 CertiK report GoMining’s marketing still cites.
Downward
- Any securities-regulator action applying an investment-contract theory to the retail Digital Miner product specifically, rather than only the already-registered institutional fund.
- Evidence that mining rewards are being funded from new-participant capital rather than real mining revenue.
- Evidence that the Secondary Marketplace is thinner than reviewer commentary already suggests - that resale below a steep discount is the norm rather than the exception.
Grade is D. A real, multi-year Bitcoin-mining product with three named audits and a referral plan that pays on real spend, attached to a structure that takes capital against an advertised return of around 40% a year with no company-side redemption of principal.
Two things here are genuinely better than the category norm. The referral plan pays on a direct referral’s actual purchases and upgrades - never on a signup fee - and the top royalty tier is reachable through owned hashrate alone, with no recruiting requirement at all. And the company submits to real outside scrutiny: three named audit firms, a formula-based fee disclosure specific enough to include a full day-count-to-discount table, and a reviewer-tested withdrawal path. That is a genuine, operating mining business, not a shell.
The exposure sits in the structure, not in any single bad number. A buyer hands over capital in exchange for a marketed Bitcoin-mining return; GoMining alone controls the hardware and the operation; there is no company redemption of principal at any point; and the only exit is resale to another user, locked for 90 days on Ecommpay purchases and up to 90 days on Apple and Google ones, in a market an independent reviewer describes as low-interest. GoMining’s own Risk Disclosure says no product guarantees any return, while that reviewer reports an advertised return of around 40% a year - a real gap between promotion and contractual obligation. And the same corporate group’s institutional arm offers the functionally identical proposition as a private securities offering under a Form D notice, which is the clearest evidence in the file that the operator’s own structuring treats this as investment-contract-shaped.
What is unresolved matters as much as what is confirmed. No income or return disclosure of any kind exists to say what a typical participant actually nets after fees. No independent proof-of-reserves or facility audit confirms that the more than 17 million TH/s GoMining says its users own exists at the scale claimed. Two of the three named audits carry unresolved findings at their own report dates, and the one GoMining still markets as current evidence of security is more than five years old.
Read the Risk Disclosure before the marketing page
GoMining’s own Risk Disclosure says no product "guarantees any return, yield, or specific level of mining rewards." If a promoter or a marketing page cites roughly 40% a year, ask what obligation actually backs that number - the answer, in the company’s own contract, is none.
Price the 90-day lock and the resale market before buying, not after
Principal is never redeemed by the company; the only exit is resale, locked for 90 days on Ecommpay purchases and up to 90 days on Apple and Google in-app purchases, into a market an independent reviewer describes as low-interest and GoMining’s own Terms say may not exist at all. Ask what a comparable used Digital Miner actually sold for recently before assuming resale value equals purchase price.
Get a competing per-TH hosting quote before comparing GoMining to nothing
GoMining discloses its own maintenance rate in detail - a $0.0089 service charge plus electricity at $0.05 to $0.07 per kWh, about $0.0269 per TH per day for a 15 W/TH miner at the low rate - but never benchmarks it against a named competitor. Get an actual quote from a hosting or colocation provider in dollars-per-TH-per-day and do the comparison GoMining’s own marketing does not do.
Weigh spot Bitcoin as the plain-language alternative
Buying Bitcoin directly carries no maintenance fee, no 90-day lock, no NFT wrapper, and immediate custody. It also carries no mining-yield component and no referral royalty - which is exactly the trade-off a buyer should be pricing consciously, rather than defaulting into the more complex product because it is the one being marketed.
Nine dimensions, weighted
Dimension profile
Further from center is better. Hover any point.
Hard caps that bind here
The lowest binding cap wins, regardless of the weighted arithmetic.
What we read
Every source below links to the document itself. Tier 1 is a primary record - the company’s own plan, policy or disclosure, a court filing, a regulator’s decision or an SEC filing. Tier 2 is a self-regulatory or secondary regulator record, tier 3 reporting or academic work, tier 4 an open-market price comparison. Where a document can be moved or withdrawn, an archived copy is linked beside it. If a link is dead when you try it, that is a correction we want.
- GoMining Terms of Use for Products and Apps
Primary contract document. Names all three operating entities with registration numbers and addresses; defines "APR" for Simple Earn only, as a forward-looking and purely indicative metric; its Risk Disclosure (Exhibit A) says no GoMining product guarantees any return or level of mining rewards; defines "Ambassador Status" and "Bonus Miner" as discretionary; sets the Referral Program rules (section 12, including discretionary L2 rewards), the Secondary Marketplace rules (section 8.7, 5% access fee), the 90-day Ecommpay transfer restriction (2.3), and submits disputes to the courts of the British Virgin Islands (section 30); lists Unlimit Crypto Limited as a MiCA-authorized CASP that may act as a Licensed Partner.
Not established by this document: The Terms amend on posting, so later versions may differ from the 23 October 2026 text archived here.
- About GoMining’s Bitcoin Mining Ecosystem
Self-reported founding year (2021), user count (5M+), staff count (300+), more than 17M terahash owned by users, data-center regions, and a hardware-vendor partnership claim.
Not established by this document: No named founder distinct from CEO Zalan; no revenue or financial figures; facility claims not independently verified.
- GoMining for Investors: Metrics and Audits
Self-reported key statistics for Q2 2026 (7 years, 6,165 BTC total mined, 17,892,306 TH/s total hashrate sold) and two named audit partners (CertiK, Cyberscope).
Not established by this document: No audited financials; the page does not say how much of the hashrate sold is currently operating.
- Maintenance fees and discounts
The full net-reward formula and the complete day-count-to-discount-percentage table for the up-to-20% GOMINING-token maintenance discount.
Not established by this document: Does not itself give the per-TH rates; GoMining’s docs page on digital miners gives them ($0.0089 per TH per day service, electricity at $0.05 to $0.07 per kWh).
- GoMining Referral Program - earn from every friend you invite
Primary comp-plan page: VIP royalty ladder (5-15%), Simple Earn 10% override, $0.005/kWh electricity royalty, $20 card bonus, 2.5% Miner Wars royalty, self-reported program scale ($500K+/year across 5,000+ referrers), and custom terms for KOLs/agencies.
Not established by this document: States no L2 rate; the Terms (section 12.6) allow discretionary L2 rewards for selected users and partners.
- Referral & Ambassador Program - GoMining Docs
Defines the exact referral reward percentages, eligibility exclusions, and the Ambassador electricity-royalty formula and calculation schedule.
Not established by this document: Silent on any L2 payout; states "Reward conditions are subject to change."
- VIP program
Confirms VIP status is based on the highest of mining power owned, veGOMINING votes staked, or 180-day referral activity - the top royalty tier is reachable without recruiting.
Not established by this document: Does not list the full benefit table for every tier beyond referral royalty.
- Become a True GoMining Partner
States the full VIP royalty ladder explicitly: Bronze 5%, Silver 7%, Gold 9%, Platinum 12%, Diamond 14%, Legend/Elite 15%.
Not established by this document: A company blog post, not the binding contract text.
- GoMining Review: Scam, Ponzi… or Both?
An independent hands-on reviewer who paid in Bitcoin and tested withdrawal successfully; reports the roughly 40%-a-year advertised return, thin secondary-market resale demand, and names the BVI entities by full address.
Not established by this document: An opinion/review piece, not a regulator or court document; the author’s methodology was not independently audited by this research.
- Gomining Review: Fraudulent Cloud Mining Operation
An independent critical reviewer alleging no regulation and no transparency; used only as one of two sources corroborating general "unregulated/thin transparency" sentiment, not relied on alone for any specific fact.
Not established by this document: Contains a factual claim (that the domain was only registered in 2025) that conflicts with GoMining’s own 2021-founding claim and other reviewers’ accounts; treated with caution and not used as a sole source for any fact in this report.
- GOMINING.COM | Bank of Russia
The Bank of Russia’s warning-list entry for GOMINING.COM, read 28 October 2026: "Signs detected by the Bank of Russia: Signs of financial pyramid"; website gomining.com; date 11.03.2025, latest data update 11.03.2025.
Not established by this document: A warning-list entry recording signs the Bank of Russia says it detected, not a court finding; the Bank of Russia states that an entity put on the list has the right to challenge this.
- List of entities with detected signs of illegal activities in the financial market
Confirms the general methodology and legal basis of the warning list the GoMining entry appears on (a monitoring system plus complaints, covering financial pyramids and illegal market participants; does not cover individuals).
Not established by this document: A general index page, not the GoMining-specific entry.
- MINERS-SIGNALS, Finvage, Len-trade | Bank of Russia
A separate Bank of Russia warning-list entry, not about GoMining; not saved in this research.
Not established by this document: No longer needed now that the GoMining entry is read directly; the editor may remove it.
- SEC EDGAR full-text search for "GoMining"
A confirmed working full-text search returning exactly one hit (the GM Alpha Blocks Form D) and no enforcement or litigation documents naming GoMining anywhere on EDGAR.
Not established by this document: Full-text search covers only EDGAR-filed documents; it does not cover investor alerts or non-filed SEC web pages.
- GM Alpha Blocks US Fund LP - Form D (primary_doc.xml)
The primary Reg D filing: names GoMining IM (BVI) Ltd. as Investment Manager, GM Alpha Blocks Feeder GP Ltd. (Cayman) as General Partner, and principals Fakhul Miah, Jeremy Dreier and John D’Agostino; claims Rule 506(c) and the Investment Company Act section 3(c)(1) exclusion; offers limited partnership interests with an "Indefinite" total offering amount, $0 sold and the first sale "yet to occur" at filing; says a management fee and/or a performance-based fee may be paid.
Not established by this document: A notice filed before any sale; it reports no later sales, and the fund’s net asset value range is marked "Decline to Disclose". Archived 28 October 2026 (sec.gov returned it with a declared User-Agent).
- EDGAR Company Search Results - CIK 0002078243
Confirms GM Alpha Blocks US Fund LP’s single Form D filing, Delaware incorporation, and Nashville, TN business address.
Not established by this document: None material.
- GOMINING IM (BVI) LTD. - Investment Adviser Firm (IAPD)
IAPD record for GOMINING IM (BVI) LTD. (firm #337618), read 28 October 2026 through the IAPD search API: an exempt reporting adviser with Tennessee ("ERA - Active", effective 31 July 2025), not SEC-registered or state-registered; office in Nashville, Tennessee; last Form ADV filing 18 February 2026.
Not established by this document: The Form ADV itself was not read.
- EDGAR Company Search Results - "gomining"
Confirms "No matching companies" for an issuer-name search on "gomining" - no GoMining entity is itself an EDGAR-registered issuer/filer in its own name.
Not established by this document: None material.
- GoMining (GOMINING) Security Score & Audit - CertiK Skynet
Read 28 October 2026: last audit delivered 12 August 2021; Major Holding Ratio 75.41%, concentration indicator "Extreme".
Not established by this document: A third-party analytics aggregator, not a regulator; figures are algorithmically derived from on-chain data.
- Gomining token Smart Contract Audit - Cyberscope
The most recent independent audit iteration found: 0 Critical, 2 Medium (unresolved), 5 Minor (unresolved); lists the contract as not renounced, with Can Mint, Can Burn and Can Pause Transfers flagged as warnings and Can Set Fees and Can Blacklist marked safe (Wayback capture of 11 September 2026).
Not established by this document: The audit firm was compensated by the project (standard industry practice, not unique to GoMining); it does not independently verify off-chain mining operations.
- GoMining smart contracts preliminary audit report (PDF)
The primary audit PDF: 13 total issues (1 High, 2 Medium, 5 Low, 5 Informational); the High and Medium findings are marked "Open," and the report states "No issues were resolved in the update."
Not established by this document: Titled "preliminary" and marked "for internal use only" by HashEx’s own disclaimer; no confirmed later or final HashEx report was located.
- GoMining Token Price (GOMINING/USD) - CoinGecko
Wayback capture of 13 October 2026: price $0.3797, market cap $152.942M, circulating and total supply 402.771M, max supply 436.915M.
Not established by this document: A market-data aggregator, not an audited company figure.
- Gomining Token Price Today - CryptoRank.io
All-time-high ($0.565, 16 December 2024) and all-time-low (~$0.0695) figures, with percentage-off-ATH/ATL calculations and a 30-day green/red day count.
Not established by this document: An aggregator site; the exact ATH date was not cross-verified against a second independent price tracker in this research.
- What Is GoMining (GOMINING) And How Does It Work? (CMC AI)
Read 28 October 2026: describes a weekly burn-and-mint cycle for the GOMINING token and maintenance-fee discounts of up to 20% for paying in it.
Not established by this document: An AI-generated summary product, not a primary tokenomics document.
- Gomining Token price now - CoinCarp
The source for the roughly 414.72M circulating / 10 billion max supply figures used in this report’s token section.
Not established by this document: CoinGecko gives a max supply of 436.915M; no other saved source supports the 10 billion figure.
- GoMining Reviews - Trustpilot
Customer review site; the report states no figure from it.
Not established by this document: Trustpilot explicitly disclaims fact-checking of review content; a private ratings aggregator, not a government body.
- GoMining Institutional - Institutional-Grade Bitcoin Mining & Yield Strategies
Confirms the "GoMining Alpha Blocks Fund" institutional product, its positioning versus self-mining and spot Bitcoin, and references to institutional infrastructure partnerships and restricted access to "qualified participants."
Not established by this document: A marketing page; it does not itself disclose the fund size raised to date or performance.
- GoMining launches $100M Bitcoin mining fund for institutional investors
Reports a $100 million target, BitGo custody, "annual distributions from mining yield", and a 2% flat annual management fee with no performance fee.
Not established by this document: Syndicated press coverage, not a primary fund document (e.g., a private placement memorandum); fund economics were not independently confirmed beyond the Form D’s generic fee-disclosure language.
- How to Sell a Digital Miner on GoMining Marketplace / Buying and selling FAQ
Says in-app purchases via Apple, Google and Ecommpay can take up to 90 days to verify before a miner can be listed or withdrawn, and that miners can also be sold on any public NFT marketplace such as OpenSea.
Not established by this document: The refund terms are in the Terms of Use (sections 27 and 38) and the Refund Policy, not on this page.
- About digital miners - GoMining Docs
Electricity priced at $0.05 to $0.07 per kWh and a service charge of $0.0089 per TH per day, both deducted in BTC at the day’s rate; says digital miners can be sold on any public marketplace.
- EDGAR submissions - GM Alpha Blocks US Fund LP (CIK 0002078243)
One filing, a Form D dated 29 July 2025; Delaware; business address in Nashville, Tennessee.
- Bitcoin Was Always Meant to Move
Product announcement quoting Mark Zalan as CEO of GoMining.
- GoMining Refund Policy
Undated policy linked from Terms of Use section 38, read 28 October 2026: a refund request is accepted only if GoMining receives it within 48 hours of the transaction; covers purchases made in error and a change of mind; requires completed KYC; GoMining may decline a request that fails the eligibility criteria; separate rules for Mine Now, Pay Later refunds.
What we could not get
- The "44.7k searches" premise figure for the watchlist ranking - no working keyword-volume tool access existed in this research, and no substitute primary source for search volume on "gomining" was found; not confirmed or refuted.
- Whether the transparency reports GoMining links from its investor page under "Reports and results" include any participant-return figure - not read in this research.
- Which Licensed Partner actually performs regulated services for EEA users - the Terms list Unlimit Crypto Limited (CySEC authorization 018/24) as one that "may act" in that role, without saying which services it performs.
- Whether GoMining’s payouts to users are funded from actual mining revenue or, in whole or part, from new-participant purchase capital - the single largest open question in this research; no evidence was found either way, and no audited financial statement exists to check against.
- Independent physical verification of any named GoMining mining facility, including the more than 17 million TH/s GoMining says its users own - no property record, utility-interconnection filing, satellite-imagery review, or site-visit report was attempted or located.
- Whether the HashEx (August 2023) High/Medium findings, or the Cyberscope (October 2024) Medium findings, have since been remediated in any later, unpublished, or not-yet-indexed audit report.
- The identity of GoMining’s 2021 founder or founders - GoMining’s About page names none, and CEO Mark Zalan’s start date was not checked against any saved record.
- Reconciliation of the GOMINING max-supply figures on market-data sites - 436.915 million on CoinGecko (13 October 2026) against 10 billion on CoinCarp (28 October 2026) - not resolved against a primary tokenomics document.
Not advice
This is independent analysis for decision-making, not legal, financial or investment advice. Allegations reported by third parties should be verified against primary court and regulatory records before any decision.
Researched by Claude. Reviewed by an editor.
Every report is researched and written by Claude, Anthropic’s AI assistant, from the company’s own plan documents, policies, terms and regulatory file - then reviewed before publication by Rob Fore, who checks the sources and the stage-label on every allegation.
- Nine weighted dimensions, published with their weights
- The editor checks the evidence and cannot change the number - the build rejects any page whose grade does not reconcile to its own arithmetic
- Every affiliate position we hold is disclosed on the report it touches
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GoMining - frequently asked
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Author, editor and publisher
This report was researched and written by Claude, Anthropic’s AI assistant, working from primary documents - GoMining’s own compensation plan, its policies and procedures, its terms of service, its income disclosure statement where one exists, and its regulatory and self-regulatory file. It was scored against nine weighted dimensions that are published in full, with their weights, on the methodology page.
Before publication it was reviewed by Rob Fore, who checks every source link, every figure against the document it came from, and every allegation against its stage-label - an investigation is not a finding, a warning letter is not an enforcement action, and a filed claim is not a verdict.
The editor does not set the grade. The published score is the weighted composite of the nine dimension scores, and the build refuses to emit a page where the two disagree by more than 0.06. A grade moves when the evidence moves it and not otherwise.
Rob Fore has marketed online since 1996, wrote Online MLM Marketing (2014), and is CEO of Listech Inc, the Nevada corporation that publishes this site. He holds affiliate positions in companies graded here - including LiveGood, which this site grades D, SendOutCards, which it grades C−, and the Home Business Academy, which it grades B−. Those positions are disclosed on the reports they touch, and changed nothing on this page.
About the author and our conflicts · Contact the editor · Corrections: corrections@opportunitygrade.com
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Corrections
Every factual claim on this page is sourced, and the ones we could not stand up are named in the unable to verify list above. If something here is wrong, we want to know, and we would rather hear it from GoMining than from a reader.
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