New Bitcoin Mining Firm OCEAN Establishes Global Headquarters in El Salvador
El Salvador continues to attract companies and global brands, with the latest addition being Bitcoin mining company OCEAN, which has chosen to set up its global headquarters in the country. This strategic move not only positions OCEAN for worldwide success but also highlights El Salvador’s potential as a hub for innovative bitcoin business operations.
According to the company’s announcement, El Salvador will serve as the “global hub of business development” for OCEAN. As a bitcoin mining pool, OCEAN allows bitcoin miners to combine their hashpower, increasing their chances of winning the block reward and earning more bitcoin from operating their devices.
“We’re thrilled to be in Bitcoin Country. The warmth and hospitality of El Salvador and President Bukele are significant for a small startup like us. We will go where we are appreciated, and we will show our support through our actions,” stated OCEAN’s President, Mark Artymko.
The decision to establish headquarters in El Salvador was based on the country’s potential, favorable legislation, and OCEAN’s mission-driven approach to decentralizing bitcoin mining. This move aligns with OCEAN’s core mission of decentralization, benefiting both Bitcoin and the company itself.
Backed by Block’s CEO Jack Dorsey and Bitcoin developer LukeDashjr as the CTO, OCEAN stands out from other pools with its unique features. Miners have the freedom to choose the type of blocks they work with, providing them with greater control and potential rewards. Additionally, OCEAN’s mining pool operates without inscriptions in its mined blocks, reducing transaction costs and combating information accumulation for nodes.
“This decision by the OCEAN Mining team reaffirms the Bitcoin culture we are fostering in El Salvador, providing entrepreneurs worldwide with the tools needed to thrive in a Bitcoin economy. We welcome OCEAN and all companies contributing to advancing Bitcoin adoption,” stated Stacy Herbert, head of the Bitcoin Office.
This marks the second mining pool announced in the country, following the launch of Lava Pool by local company Volcano Energy in October 2023. Since El Salvador made bitcoin legal tender in 2021, it has seen a surge in popularity among bitcoin enthusiasts and companies globally.
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