Key Takeaways:
- Ocean Mining opens an international hub in San Salvador, leveraging El Salvador’s Bitcoin-friendly stance.
- The hub aims to enhance Bitcoin mining adoption and create new opportunities, supported by El Salvador’s legal tender status of Bitcoin.
- Ocean Mining, backed by Jack Dorsey, focuses on decentralization and education within the Bitcoin community.
Ocean Mining, a Bitcoin mining pool backed by Twitter (now X) co-founder Jack Dorsey, has announced the opening of its international hub in San Salvador, the capital of El Salvador.
This move aims to leverage El Salvador’s Bitcoin-friendly stance to establish a global presence and further decentralization efforts.
JUST IN: 🇸🇻 Jack Dorsey-backed #Bitcoin mining company Ocean Mining has adopted El Salvador as its global headquarters! pic.twitter.com/2RmiDYjhUm
— Bitcoin Archive (@BTC_Archive) May 29, 2024
El Salvador, which adopted Bitcoin as legal tender in 2021, provides a supportive environment in contrast to places like Venezuela and the EU that are imposing bans on Bitcoin mining.
Mark Artymko, President of Ocean, emphasized that El Salvador’s political stance on Bitcoin made it an ideal location for their operations.
Luke Dashjr, Ocean’s co-founder and CTO, highlighted that the new hub would enhance Bitcoin mining adoption and create new opportunities in El Salvador.
Jack Dorsey-Backed #Bitcoin Mining Pool #Ocean Establishes Global Hub in El Salvador #NewsBytes https://t.co/OwS5ymZW3N
— Bitcoin.com News (@BTCTN) May 30, 2024
The company also plans to contribute to the education and development of Bitcoin communities, including Bitcoin Beach in El Zonte.
The announcement reaffirms El Salvador’s commitment to a Bitcoin-first culture, as noted by Stacy Herbert, head of El Salvador’s Bitcoin office.
Ocean Mining, launched in late 2024, operates as a decentralized, non-custodial, and transparent mining pool.
NEW: Jack Dorsey-backed @ocean_mining establishes global hub in the #Bitcoin country El Salvador 🇸🇻 pic.twitter.com/qacFm11byF
— Simply Bitcoin (@SimplyBitcoinTV) May 29, 2024
It is led by Luke Dashjr and operated by Bitcoin Ocean, a subsidiary of Mummolin, which received significant funding from Jack Dorsey in 2023 to support decentralized mining initiatives.
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