Ocean Mining, a Bitcoin mining pool backed by X co-founder Jack Dorsey, announced the establishment of its global headquarters in San Salvador, El Salvador. The move highlights El Salvador’s growing embrace of Bitcoin and its aim to become a leader in cryptocurrency adoption.
Ocean Mining, launched in late 2023, is committed to decentralized and transparent Bitcoin mining practices. The company seeks to expand its global reach while supporting El Salvador’s Bitcoin-friendly policies.
“El Salvador’s progressive stance on Bitcoin makes it a perfect fit for our company’s goals,” said Ocean president Mark Artymko. He pointed to El Salvador’s leadership compared to countries like Venezuela and the EU, which have implemented restrictions on Bitcoin mining.
Luke Dashjr, co-founder and CTO of Ocean, believes the company’s presence will further propel El Salvador’s cryptocurrency adoption efforts.
“El Salvador is at the forefront of Bitcoin integration, and we’re confident that Ocean can contribute significantly,” he stated.
Ocean also plans to invest in educational resources for Bitcoin communities within El Salvador, including the famed “Bitcoin Beach” in El Zonte.
Stacy Herbert, head of El Salvador’s Bitcoin office, welcomed Ocean’s decision, emphasizing its reinforcement of the country’s Bitcoin-centric approach. “We embrace companies like Ocean that work towards wider Bitcoin adoption,” she said.
This news follows the successful $6.2 million seed funding round led by Dorsey in November 2023 for Mummolin, the parent company of Ocean Mining.
