Jack Dorsey-backed Bitcoin mining pool opens headquarters in El Salvador
Ocean Mining, a Bitcoin mining pool backed by Twitter (now X) co-founder Jack Dorsey, is opening a hub in BTC-friendly El Salvador to establish a global presence.
On May 29, Ocean officially announced a legal entity in El Salvador that will serve as its international center and headquarters. The center is located in San Salvador, the capital of El Salvador.
El Salvador is an obvious choice.
El Salvador is an obvious choice for the organization to further develop its decentralized efforts and gain a global presence, according to Ocean President Mark Artymko. And so he said.
“El Salvador's political stance was a stark contrast and a beacon of hope for the industry, as Venezuela and the European Union passed legislation banning Bitcoin mining.”
According to Ocean Co-Founder and Chief Technology Officer Luke Dashjer, the launch of the pool in El Salvador will help El Salvador – which will legalize Bitcoin in 2021 – further increase its adoption of the cryptocurrency.
“El Salvador is at the forefront of Bitcoin (BTC) and Bitcoin mining adoption, and we believe Ocean's presence here will help advance these efforts here and create new opportunities for El Salvador and others,” he said.
Ocean said it looks forward to providing resources to continue the education and development of Bitcoin communities in El Salvador, including places like El Zonta commonly known as “Bitcoin Beach.”
Related: Argentina Aims to Learn from El Salvador's Bitcoin Success
The move reaffirms El Salvador's Bitcoin-first culture
Stacey Herbert, head of El Salvador's Bitcoin office, welcomed the news from Ocean, noting that the company's presence in El Salvador reaffirms the Bitcoin-first tradition in El Salvador.
“We welcome Ocean and other companies working to advance Bitcoin adoption,” she said.
The news comes nearly half a year after Ocean Mines began operations in late 2024. The company operates a Bitcoin mining pool committed to providing decentralized, non-custodial and transparent mining services.
Ocean is run by long-time Bitcoin Core developer Luke Dashiere and operated by Bitcoin Ocean, a Wyoming corporation subsidiary of Mummolin that operated between 2011 and 2017, and the successor to the Eligius Bitcoin mining pool.
In the year In November 2023, X co-founder Dorsey led a $6.2 million seed round for Momolin, which aims to support decentralized mining and allow miners to earn rewards directly from Bitcoin.
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