GoMining Challenges Block with New Bitcoin Payment Protocol

GoMining launches GoBTC Pay to compete with Jack Dorsey's Block, offering direct Bitcoin base-layer transactions for merchants and daily purchases.

The Bitcoin payments market is entering a fresh era of competition following GoMining’s announcement of GoBTC Pay. This new protocol and software suite for merchants aims to streamline the use of cryptocurrency for everyday purchases.

According to CoinDesk, the move comes just weeks after Block expanded Bitcoin payment support to millions of merchants within its ecosystem. This development has turned the payments sector into one of the most contested areas of the crypto industry in 2026.

While most companies build solutions on the Lightning Network, GoMining is taking a different path by betting on direct transactions on the Bitcoin base layer.

Betting on the Bitcoin Base Layer

GoMining designed GoBTC Pay to make BTC more practical for physical payments without relying on secondary networks or additional scaling layers. The system utilizes the company’s own mining infrastructure combined with a private mempool and the Stratum V2 protocol to prioritize specific transactions within its network.

This approach results in an average final settlement time of approximately 12 hours. While significantly slower than the Lightning Network, GoMining argues this method aligns more closely with Bitcoin’s original vision as a decentralized payment system.

The company maintains that this model enables a more direct connection to the primary blockchain and reduces reliance on external payment processing solutions.

Block Focuses on Speed

This new product directly challenges the strategy of Block, which has recently expanded Bitcoin payment integration across its global network of roughly 4 million merchants.

Unlike GoMining, Block’s system utilizes the Lightning Network to offer nearly instantaneous settlements. Merchants can automatically convert received funds into dollars or hold them in BTC without altering their existing payment infrastructure. This makes speed and convenience Block’s primary competitive advantages.

However, GoMining seeks to win over users who prefer a more direct link to the Bitcoin blockchain and view Lightning as a compromise on the network’s foundational philosophy.

The Fight for Next-Gen Crypto Payments

Beyond the payment protocol, the company is developing a complete merchant ecosystem. This includes specialized POS terminals, merchant dashboards, and integrations for popular platforms like Shopify and WooCommerce.

The system allows businesses to accept payments directly in BTC or use custodial services with fiat conversion options. The architecture is built on a multi-sig model involving the user, GoMining, and a regulated third-party custodian, which the company claims enhances fund security.

The arrival of GoBTC Pay comes as the race to turn Bitcoin into a viable medium of exchange intensifies. While the cryptocurrency was viewed primarily as an investment asset for years, companies like Block and GoMining are building the infrastructure to transform the digital asset into an everyday payment tool.

For investors, this signals that the next major industry battle may not involve spot ETFs or asset tokenization, but rather control over Bitcoin’s future payment infrastructure. In this rivalry, Block holds the advantage of scale and millions of merchants, while GoMining bets that the true future of Bitcoin payments belongs on the blockchain itself.

In a climate of market volatility, choosing a secure crypto wallet remains vital for investors. For a detailed analysis of asset protection, see the article on the best crypto wallets for 2026, which explores various options based on security, convenience, and functionality.