- Jack Dorsey-backed Ocean Mining is setting up its international headquarters in San Salvador, El Salvador.
- Stratum V2 decentralizes power by giving miners of all sizes greater control over Bitcoin mining.
Jack Dorsey-backed Bitcoin mining pool Ocean has launched a “global hub” in El Salvador via its new entity. According to the X post, the new venture, Ocean Mining S.A. de C.V., headquartered in San Salvador, aims to leverage the favorable regulatory environment in El Salvador to expand its operations and promote the adoption of Bitcoin.
This move comes as part of their commitment to decentralizing Bitcoin mining globally by integrating Stratum V2, a protocol created to distribute power more evenly among miners.
Bitcoin Country, here we come! 🌴
— OCEAN (@ocean_mining) May 29, 2024
We are thrilled to announce that OCEAN has expanded into El Salvador 🇸🇻. OCEAN MINING S.A. de C.V. will serve as our global hub of business development as we continue to bring features to market that push the envelope of decentralization in… pic.twitter.com/USyB08LOgj
El Salvador is positioned as a “Bitcoin Country,” notably becoming the first nation to adopt BTC as legal tender in 2021, making it an ideal location for Ocean Mining’s global hub. The company intends to not only focus on mining activities but also contribute to the education and development of Bitcoin communities in the country, fostering the growth of circular economies.
Further, Jack Dorsey, a well-known supporter of Bitcoin, is expected to be a key player in Ocean Mining’s operations in El Salvador. By establishing its presence in El Salvador, Ocean Mining aims to ensure maximum reach and adoption while operating within a supportive regulatory framework.
