Key Points
- Bitcoin mining pool Ocean Mining, supported by Twitter co-founder Jack Dorsey, is setting up a hub in El Salvador.
- The move is aimed at promoting Bitcoin adoption and providing resources for the development of Bitcoin communities in the country.
Ocean Mining, a mining pool for Bitcoin, supported by Jack Dorsey, co-founder of Twitter (now known as X), is establishing a hub in El Salvador. This move aims to enhance the company’s global presence.
The company officially announced its new entity in El Salvador on May 29. The hub, situated in the capital city, San Salvador, will serve as Ocean’s international headquarters.
El Salvador: A Strategic Choice
Mark Artymko, Ocean’s president, stated that El Salvador was a logical choice for the firm to expand its decentralization efforts and establish a global presence. He pointed out the contrast between El Salvador’s political stance and the Bitcoin mining bans in places like Venezuela and the EU.
Luke Dashjr, Ocean’s co-founder and chief technology officer, believes that the company’s launch in El Salvador will boost the country’s cryptocurrency adoption. El Salvador, which legalized Bitcoin in 2021, is seen as a pioneer in Bitcoin and Bitcoin mining adoption.
Supporting Bitcoin Communities
Ocean looks forward to contributing resources to further the education and development of Bitcoin communities in El Salvador. This includes regions like El Zonte, widely known as “Bitcoin Beach.”
Stacy Herbert, head of El Salvador’s Bitcoin office, welcomed Ocean’s arrival. She stated that the company’s presence in the country reinforces the Bitcoin-first culture.
Ocean Mining, which launched in late 2024, operates a Bitcoin mining pool dedicated to providing decentralized, non-custodial, and transparent mining services. The company is led by Luke Dashjr, a longtime Bitcoin Core developer, and is a subsidiary of Mummolin, a Wyoming corporation.
In November 2023, X co-founder Dorsey led a $6.2 million seed round for Mummolin. The company aims to support decentralized mining and enable miners to receive block rewards directly from Bitcoin.
