GoMining Introduces Instant Funds for Digital Bitcoin Miners
GoMining has expanded the utility of its digital Bitcoin miners by introducing Instant Funds, a new feature that allows eligible users to use their miners as collateral for access to stablecoins. This addition effectively adds a liquidity function to GoMining's digital mining assets.
Users can lock an eligible NFT miner and access USDT or USDC without putting the miner up for sale, with positions starting from $5 and capped at $10,000 per user. The feature is designed to provide users with instant funds while still allowing their miners to generate Bitcoin rewards.
The positions carry 0% APR and run on 30-day terms with mandatory automatic renewal, but the origination fee ranges between 1.5% and 2.5%, based on the user's VIP level. If the position reaches a 60% loan-to-value threshold, triggering a seven-day buyback period, mining rewards generated from that point onward are forfeited.
The eligibility for Instant Funds is initially limited to miners with an energy efficiency of 12 W/TH or better and held in the user's GoMining platform wallet. GoMining plans to gradually raise the eligibility threshold to bring more miners into the program, making this launch the first phase of a wider rollout.