Ocean Mining, a Bitcoin mining pool supported by Jack Dorsey, co-founder of Twitter (now X), is expanding its operations by opening a hub in Bitcoin-friendly El Salvador. This move is aimed at establishing a global presence for the company. On May 29, Ocean officially announced its entity in San Salvador, the capital city of El Salvador, which will serve as its international hub and headquarters.
Mark Artymko, the president of Ocean, explained that El Salvador was a logical choice for the company to further its decentralization efforts and expand its global reach. He emphasized that the country’s decision to make Bitcoin a legal tender in 2021 has positioned it at the forefront of Bitcoin adoption. By establishing a presence in El Salvador, Ocean aims to contribute to the advancement of cryptocurrency adoption in the country and create new opportunities not only in El Salvador but also elsewhere.
Ocean also expressed its commitment to providing resources for the education and development of Bitcoin communities in El Salvador, including the well-known “Bitcoin Beach” in El Zonte. This initiative aligns with El Salvador’s Bitcoin-first culture and has been welcomed by Stacy Herbert, the head of El Salvador’s Bitcoin office. She sees the presence of Ocean and other companies working towards Bitcoin adoption as a positive step towards furthering the country’s cryptocurrency goals.
Ocean Mining was launched in late 2024 and operates as a Bitcoin mining pool that offers decentralized, non-custodial, and transparent mining services. The company is led by Luke Dashjr, a long-time Bitcoin Core developer, and is operated by Bitcoin Ocean, a subsidiary of Mummolin. Mummolin is a Wyoming corporation and the successor to the Eligius Bitcoin mining pool, which operated from 2011 to 2017. In November 2023, Jack Dorsey led a $6.2 million seed round for Mummolin, with the aim of supporting decentralized mining and enabling miners to receive block rewards directly from Bitcoin.
In summary, Ocean Mining’s decision to open a hub in El Salvador reflects its commitment to decentralization and its recognition of El Salvador’s leadership in Bitcoin adoption. The company aims to contribute to the growth of cryptocurrency adoption in the country and beyond, while also supporting the education and development of Bitcoin communities.