Bitcoin Mining Firm, OCEAN Establishes its Headquarters in El Salvador

El Salvador's appeal for companies and global brands continues to grow, with Bitcoin mining firm OCEAN making a strategic move to establish its global headquarters in the country. This decision positions OCEAN for worldwide success and underscores El Salvador's potential as a hub for innovative Bitcoin business operations.

According to their announcement, El Salvador will serve as the company's "global hub of business development." OCEAN operates a Bitcoin mining pool, allowing miners to combine their hashpower, thereby increasing their chances of winning block rewards and earning more Bitcoin.

The decision was influenced by El Salvador's favorable legislation and OCEAN's mission-driven approach to decentralizing Bitcoin mining. "This helps our core mission of decentralization. It's good for Bitcoin, it's good for OCEAN," the company emphasized.

OCEAN is backed by Block’s CEO Jack Dorsey and renowned Bitcoin developer Luke Dashjr, who serves as the Chief Technology Officer. OCEAN differentiates itself from other mining pools with unique features, such as allowing miners to choose the types of blocks they work with, enhancing their control and potential rewards. Additionally, OCEAN's mining pool operates without inscriptions in their mined blocks, reducing transaction costs and preventing the accumulation of information for nodes.

Inscriptions are data included in Bitcoin transactions that increase their size and cost. Miners using OCEAN do not receive fees for inscription users and mine blocks without this additional information.