New feature adds a liquidity layer to digital mining assets, with access starting at $5 and capped at $10,000 per user
GoMining has expanded the utility of its digital Bitcoin miners with the launch of Instant Funds, allowing eligible users to use their miners as collateral for access to stablecoins.
Previously available in closed mode, Instant Funds is now being rolled out to GoMining’s broader user base in supported markets. Users can lock an eligible NFT miner and access USDT or USDC without putting the miner up for sale.
The launch effectively adds a liquidity function to GoMining’s digital mining assets. Eligible miners can now serve two purposes at the same time: generating Bitcoin and providing collateral for access to funds.
Users can access up to 30% of a miner’s collateral value, with positions starting from $5. GoMining has set an aggregate limit of $10,000 per user, although users can hold multiple individual positions within that cap.
The positions carry 0% APR and run on 30-day terms with mandatory automatic renewal. An origination fee of between 1.5% and 2.5%, based on the user’s VIP level, applies when a position is opened and again when it renews.
As long as the position remains active and below its liquidation threshold, the collateralized miner continues producing Bitcoin rewards for its holder. That changes if the position reaches a 60% loan-to-value threshold, triggering a seven-day buyback period. Mining rewards generated from that point onward, including during buyback and any subsequent auction, are forfeited.
Eligibility is initially limited to miners with energy efficiency of 12 W/TH or better. The miners must also be held in the user’s GoMining platform wallet and cannot be listed for sale on the secondary marketplace.
Digital miners with an active Mine Now, Pay Later plan or an overdue auto-upgrade subscription are excluded.
GoMining plans to gradually raise the eligibility threshold to bring more miners into the program, making the current launch the first phase of a wider rollout.
Users must complete KYC Level 1 verification to access Instant Funds. In the European Economic Area, eligible verified users can access funds in USDC.
The feature is live through the GoMining app in supported markets.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
