OCEAN Mining Pool has officially announced the establishment of its global headquarters in San Salvador, El Salvador.
According to a press release, this move is led by co-founders Jack Dorsey and Bitcoin Core developer Luke Dashjr. The decision aligns with the company’s goal to enhance the decentralization of Bitcoin mining worldwide. Luke Dashjr, OCEAN’s CTO, expressed that El Salvador’s proactive stance on Bitcoin adoption makes it an ideal location for advancing their efforts.
Bitcoin Country, here we come! We are thrilled to announce that OCEAN has expanded into El Salvador . OCEAN MINING S.A. de C.V. will serve as our global hub of business development as we continue to bring features to market that push the envelope of decentralization in… pic.twitter.com/USyB08LOgj
— OCEAN (@ocean_mining) May 29, 2024
OCEAN’s President, Mark Artymko, pointed out El Salvador’s choice, citing the country’s welcoming political stance on Bitcoin. Unlike regions such as Venezuela and the European Union, where legislation to ban Bitcoin mining has been enacted, El Salvador offers a supportive environment. This contrast played a crucial role in OCEAN’s decision to establish its headquarters in the capital city of San Salvador.
El Salvador’s Role in Bitcoin Adoption
El Salvador has embraced Bitcoin, making it a legal tender in 2021. This bold move has earned the title “Bitcoin Country.” Establishing OCEAN’s headquarters in El Salvador underscores the nation’s commitment to Bitcoin and its emerging role as a hub for innovation. Stacy Herbert from El Salvador’s Bitcoin Office welcomed OCEAN’s decision, emphasizing that the Bitcoin-first culture built in El Salvador provides entrepreneurs with the tools to thrive in a Bitcoin economy.
The country’s commitment to Bitcoin and government support have made it an attractive destination for Bitcoin-focused enterprises. The collaboration between OCEAN and El Salvador aims to create new opportunities and further Bitcoin adoption locally and globally.
OCEAN’s Global Head of Sales, Bitcoin Mechanic, highlighted the company’s dedication to decentralization. Implementing Stratum V2 is a step towards reducing the concentration of power among a few mining pools, bringing miners of all sizes closer to Bitcoin’s core. By establishing its global hub in El Salvador, OCEAN aims to ensure maximum reach and adoption of these features in a favorable regulatory environment.
OCEAN is a non-custodial, transparent, and permissionless mining pool. The company is committed to advancing the decentralization of Bitcoin mining and empowering miners globally. Their move to El Salvador is a strategic step in this direction, leveraging the country’s supportive stance on Bitcoin.
Support for Local Bitcoin Communities
OCEAN plans to contribute to the education and development of Bitcoin communities within El Salvador. This includes supporting initiatives like “Bitcoin Beach” at El Zonte, which has developed a local Bitcoin-based economy. OCEAN’s presence in the country aims to foster similar initiatives and promote the growth of Bitcoin communities.
The company also looks forward to providing resources to continue developing Bitcoin communities in El Salvador. By investing in local education and development, OCEAN hopes to support the organic growth of circular economies based on Bitcoin.
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