What is the grounding pin used for on the back panel of the Prime Go? (It is located above the power button)
It’s not for grounding, it’s to clamp your power cable in so it doesn’t get yanked out mid performance. I mean, as it has a battery, which would act as back-up in that scenario, you could argue it’s not really needed. However, it is marketed as a pro level device so you would expect it to be there.
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Don’t think it’s a grounding screw (as it’s intended purpose, like on mixers for turntable grounding wire).
It is probably there so you can put the power suppy wire under the clip to prevent it from being pulled out.
But, you can probably use it to ground the unit im case you have touch detection issues on the jogwheels I guess…
Edit: peasey beat me while I typed 
Hmm…I always wondered if this is a good thing or a bad thing. So you clamp your power cable so it does not get yanked during performance. On the other hand you may end up with your device on the ground since it got pulled off the table.
Result: your performance likely ended.
In the case of a Prime Go, given it has its battery, I would never use this and rather have the cable come out…