In brief
- GoMining and Jacob & Co. are teaming up for a luxury watch and digital miner combo.
- The limited-edition, 100-piece combo grants purchasers a luxury watch and a digital miner with 1,000 TH in computing power.
- Similar mining capacities could earn users net rewards of nearly $7,000 a year based on current BTC prices.
Bitcoin mining company GoMining has teamed with luxury watchmaker Jacob & Co. to offer a limited-edition watch and Bitcoin miner combo aimed at pairing luxury with mining rewards.
The $40,000, 100-piece Epic X GoMining package consists of a Bitcoin-themed luxury watch hand-wound by Jacob & Co. plus a 1,000 terahash (TH) “digital miner.”
“The watches created alongside Jacob and Co. will be the first of its kind, so we wanted to work with a partner with an established presence in the luxury marketplace to ensure our customers were provided with the best possible craftsmanship, alongside real Bitcoin mining capacity,” a spokesperson for GoMining told Decrypt.
The Epic X GoMining watch from Jacob & Co. Image: GoMining
Unlike a physical mining rig, GoMining’s digital miner represents a certificate of 1,000 TH of mining power from GoMining’s existing physical mining fleet. Users then earn rewards proportionally to their digital miner hash power, with BTC rewards being credited to the owner’s GoMining account daily, less upkeep fees like electricity and equipment service.
Digital miners on the platform start at around 1TH of computing power for around $23 and provide an estimated yearly net reward of about $6.53 based on today’s Bitcoin prices. That net reward jumps to nearly $7,000 a year for a 1,024 TH miner, based on the platform’s custom miner creation tool—but the miner cost increases significantly too.
In this instance, users can get the 1,000TH digital miner alongside the watch for around a $10,000 discount, according to the GoMining representative.
“The price of the package is the combination of the price of the timepiece and TH power of a digital miner,” they told _Decrypt. _“Whilst the package can’t be sold separately, the indicated retail price for the timepiece is $30K and a miner with similar TH power is approximately $20K.”
The Epic X GoMining package will be available at the Jacob & Co. showrooms in New York and Miami, the watchmaker’s website, and the GoMining marketplace.
“As a business, we continue to bring new products to the market that challenge the status quo, and this partnership will provide another opportunity to do just that,” the spokesperson said. “By partnering with such a well-known and respected brand, we will be able to reach a wider audience and further move the needle for crypto enthusiasts.”
This isn’t the first time Jacob & Co. has offered a Bitcoin-themed watch, nor is this the most expensive rendition. In 2022, the jeweler launched the lavish Astronomia Solar Bitcoin timepiece limited to just 25 pieces—each retailing for $348,000.
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