Jack Dorsey-Backed Bitcoin Mining Pool Opens HQ in El Salvador

Ocean Mining, backed by Jack Dorsey, has established its international headquarters in San Salvador, El Salvador, to support Bitcoin mining and adoption.
Jack Dorsey-Backed Bitcoin Mining Pool Opens HQ in El Salvador

Key Takeaways

  • Ocean Mining has opened its international headquarters in San Salvador, El Salvador.
  • El Salvador's supportive Bitcoin stance influenced Ocean Mining's choice for its new hub.
  • Ocean Mining, backed by Jack Dorsey, aims to advance Bitcoin adoption and mining in El Salvador.

Launched in late 2024, Ocean Mining has established its international headquarters in San Salvador, El Salvador.

Backed by Twitter (now X) co-founder Jack Dorsey, Ocean Mining is setting up this hub to expand its global presence in a Bitcoin-friendly nation.

On May 29, Ocean officially announced its new entity in El Salvador’s capital city.

Mark Artymko, Ocean’s president, highlighted that El Salvador was an obvious choice due to its supportive stance on Bitcoin, contrasting sharply with restrictive regulations in places like Venezuela and the EU.

Artymko stated:

El Salvador’s political stance was a beacon of hope for the industry.

Luke Dashjr, Ocean’s co-founder and chief technology officer, emphasized the strategic importance of this move.

Dahjr said:

El Salvador is on the leading edge of Bitcoin and Bitcoin mining adoption. We believe Ocean’s presence here will help to advance these efforts and create new opportunities for El Salvador and elsewhere.

Ocean Mining also plans to support Bitcoin education and community development in El Salvador, including initiatives in places like El Zonte, known as “Bitcoin Beach.”

Stacy Herbert, head of El Salvador’s Bitcoin office, welcomed Ocean Mining’s establishment, noting it reaffirms the country’s Bitcoin-first culture.

She said:

We welcome Ocean and all other companies working to advance Bitcoin adoption.

Founded by Luke Dashjr and operated by Bitcoin Ocean, a subsidiary of Mummolin, Ocean Mining received significant backing from Dorsey, who led a $6.2 million seed round in November 2023.

The company is committed to providing decentralized, non-custodial, and transparent mining services.

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