Are Googlebomb-type backlinks "white hat"?

[FlexAjaxSEO]

Are inbound links (the googlebomb type) too close to link farms to be white hat?

[tedster]

Not sure I get what you mean by "the googlebomb type." If you mean intentionally placing many links on other domain with the exact same anchor text - that can be a problem. Natural links always include a few of the type "click here", "www.example.com" and other variation including different anchor text. If you are controlling all the anchor text on many links, that is a pretty good sign of attempted manipulation.

[FlexAjaxSEO]

Follow up question: if indeed, as is my case I have 90 sites linking between each other with similar words, how can I profit from WORD ON LINKS without it being spam and black hat?

[Robert Charlton]

90 sites linking between each other with similar words, how can I profit from WORD ON LINKS without it being spam and black hat?

90 sites interlinking is already spam and black hat... a situation that Google can probably detect.

"WORD ON LINKS", if I understand what you mean by this (ie, links with no anchor text variation), are one more clue to Google that this is a contrived situation.

Both will probably trip filters of various sorts. Depends on the rest of the link profiles of all of these sites... how many other inbounds each has from good sites outside your network... but my guess is the situations isn't healthy enough to obscure these obvious patterns.