- OCEAN Mining has introduced the institution of a world hub in El Salvador.
- The Bitcoin mining pool is backed by Jack Dorsey.
OCEAN Mining, a Bitcoin mining pool backed by Jack Dorsey, the founding father of funds agency Block (previously Sq.), has established its headquarters in El Salvador.
OCEAN opens worldwide hub in El Salvador
In a press release revealed on Could 29, OCEAN stated its new international hub could be primarily based in San Salvador, the capital metropolis of El Salvador.
The Bitcoin mining pool will use this hub to advance its international presence and promote decentralization in BTC mining.
OCEAN’s President Mark Artymko commented on the event:
“To further our decentralization efforts we needed a global presence, and El Salvador was the obvious choice. With places like Venezuela and the EU imposing legislation to ban Bitcoin mining, El Salvador’s political stance was in stark contrast and a beacon of hope for the industry.”
El Salvador’s “Bitcoin-first culture”
El Salvador grew to become the primary nation to undertake Bitcoin as authorized tender. The nation adopted BTC as authorized tender in June, 2021, with the regulation changing into efficient on September 7 that yr.
President Nayib Bukele continues to champion the adoption of Bitcoin and has typically offered updates on the nation’s BTC holdings.
Stacy Herbert, head of El Salvador’s Bitcoin Workplace, famous that the “Bitcoin-first culture” offers a conducive atmosphere for crypto firms and entrepreneurs within the nation.
“This decision by the OCEAN Mining team reaffirms that the Bitcoin-first culture we are building in El Salvador is providing the tools that entrepreneurs around the world need to thrive in a Bitcoin economy. We welcome OCEAN and all other companies working to advance Bitcoin adoption,” Herbert added.
OCEAN co-founder and CTO Luke Dashjr stated that the hub will contribute to Bitcoin adoption in El Salvador and throughout the globe.
“El Salvador is on the leading edge of Bitcoin and Bitcoin mining adoption, and we believe OCEAN’s presence here will help to advance these efforts here and create new opportunities for El Salvador and elsewhere,” the Bitcoin Core developer famous.
OCEAN Mining launched in 2023, and confronted some controversy as its operations went dwell.
In November, Jack Dorsey led a $6.2 million funding spherical for the mining pool’s Wyoming-based firm Mummolin.