Jack Dorsey’s Bitcoin Mining Pool Sets Up HQ in El Salvador
Ocean Mining, a Bitcoin mining pool supported by Twitter (now X) co-founder Jack Dorsey, is taking significant steps to enhance its global presence by opening a hub in the Bitcoin-friendly nation of El Salvador. On May 29, the firm officially declared the establishment of its entity in the Central American country, a move that will serve as its international headquarters. This new hub is strategically located in San Salvador, the nation’s capital.
Mark Artymko, the president of Ocean Mining, highlighted that the selection of El Salvador was an evident choice for promoting the firm’s decentralization goals and broadening its global outreach. Artymko pointed out the stark differences between El Salvador’s welcoming stance towards Bitcoin and the restrictive measures seen in regions like Venezuela and the European Union, which have been moving to ban Bitcoin mining.
Luke Dashjr, Ocean’s co-founder and chief technology officer, expressed optimism about the pool’s launch in El Salvador. He believes that the company’s presence will greatly benefit the country, which took a pioneering step by making Bitcoin legal tender in 2021. Dashjr emphasized that this will aid in advancing the adoption of Bitcoin and Bitcoin mining in El Salvador, creating new opportunities locally and globally.
Ocean Mining also plans to contribute to the continuous education and growth of Bitcoin communities within El Salvador. One of the targeted areas for this educational push includes El Zonte, popularly referred to as “Bitcoin Beach,” a notable hotspot for Bitcoin enthusiasts and users.
The head of El Salvador’s Bitcoin office, Stacy Herbert, welcomed Ocean’s new endeavor. She remarked that the company’s move reinforces the country’s already established Bitcoin-first culture. Herbert expressed her enthusiastic support for Ocean and other entities striving to elevate Bitcoin adoption in the region.
This development follows closely on the heels of Ocean Mining’s official launch just six months prior, in late 2024. Ocean Mining operates as a Bitcoin mining pool focused on providing decentralized, non-custodial, and transparent mining services to its users.
The core leadership of Ocean Mining includes Luke Dashjr, a seasoned Bitcoin Core developer. The company operates under Bitcoin Ocean, a subsidiary of Mummolin, which is based in Wyoming. Mummolin is the successor to the Eligius Bitcoin mining pool, which had been active from 2011 to 2017.
In November of 2023, Jack Dorsey, co-founder of X, led a significant $6.2 million seed fundraising round for Mummolin. The primary objective of this funding initiative is to promote decentralized mining practices and enable miners to directly receive block rewards from Bitcoin.
Ocean Mining’s strategic move into El Salvador is expected to bolster the country’s position as a leading hub for Bitcoin adoption and mining, furthering the global decentralization of the cryptocurrency industry.
35 thoughts on “Jack Dorsey’s Bitcoin Mining Pool Sets Up HQ in El Salvador”
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It’s disheartening to see how El Salvador is being used as a playground for these big tech experiments. 😔💸”
Jack Dorsey supporting another environmentally damaging endeavor? Surprising…not. 😒🌍”
Excited to see Ocean Mining expanding in El Salvador! This is a huge step for Bitcoin adoption!
👏 Kudos to Ocean Mining and Jack Dorsey for supporting decentralized mining practices! El Salvador is the perfect spot for this! 🌍
The article talks a lot about benefits for the Bitcoin community, but what about the average El Salvadorian? 🤔💭”
Amazing news! 🌎 Ocean Mining’s new hub in San Salvador will definitely boost Bitcoin in El Salvador. Let’s go! 💥
This move is genius! 🌟 El Salvador is the heart of the Bitcoin movement, and Ocean Mining’s presence will only amplify that! 🚀🌊
👏 Ocean Mining’s choice of El Salvador is spot on! Can’t wait to see the positive impact on Bitcoin mining and the community! 🌊
Bitcoin as legal tender was already controversial, now adding massive mining operations? Seems like trouble ahead. 😬💥”
Great to see Ocean Mining taking big steps in El Salvador! This will definitely enhance the global Bitcoin network.
Ocean Mining setting up in El Salvador is a game-changer! Can’t wait to see the impact on the local and global Bitcoin scene!
Jack Dorsey & Ocean Mining are making bold moves! El Salvador will surely benefit greatly from this!
Instead of real progress, it looks like El Salvador is being set up to host another risky financial experiment.
Congrats to Ocean Mining and El Salvador! This will set the stage for more innovative Bitcoin ventures.
El Salvador is becoming the Bitcoin epicenter thanks to initiatives like Ocean Mining! Kudos to everyone involved!
With all the energy Bitcoin mining consumes, isn’t it a bit irresponsible to set up such large-scale operations in a developing nation?
Another day, another tech mogul exploiting smaller nations for profit.
So, El Salvador’s government is welcoming Bitcoin companies more than addressing issues like poverty and crime? Priorities seem mixed up.
Is this really a step forward for El Salvador, or just a detour that benefits tech millionaires?
Ocean Mining seems like just another company riding the Bitcoin wave at the expense of local people and the environment. 😒🌊”
El Salvador becoming a hub for Bitcoin is one thing, but are we considering what happens when the Bitcoin hype fades? 🤷♀️📉”
Love seeing Ocean Mining expanding to El Salvador! Amazing news for the local and global Bitcoin ecosystem.
This is exactly what Bitcoin needs! Ocean Mining’s new HQ in El Salvador is a win-win for the crypto world!
🌊🔋 Loving the news of Ocean Mining opening in El Salvador! A win for decentralized innovation everywhere!
Wow, this is HUGE! Ocean Mining making waves in El Salvador is exciting and promising for the future of Bitcoin!
El Salvador continues to lead the way! Ocean Mining’s hub here will fuel even more Bitcoin growth!
Let’s not forget the environmental toll of Bitcoin mining. Are El Salvador’s natural resources the next to be drained?
Thrilled to see this expansion! Ocean Mining in El Salvador will boost global Bitcoin adoption and education!
Ocean Mining’s move seems more like a PR stunt than a genuine effort to help El Salvadorians.
🌟 El Salvador continues to shine in the crypto space! Ocean Mining’s new headquarters is a brilliant move! 🚀
Bitcoin mining in El Salvador might boost the industry, but what about the local communities facing the brunt of these changes?
Big step for mining with Ocean Mining opening in El Salvador. Great job, Jack Dorsey and team!
Great, another tech giant selling the dream of decentralization while centralizing power and resources in reality. 😑🔋”
🌊🚀 This is incredible! Ocean Mining in El Salvador is a significant milestone for decentralized Bitcoin mining!
🌟🌍 So excited for Ocean Mining’s move to El Salvador! Great for decentralization and will really help the community.