Stacy

Bitcoin

El Salvador continues to attract global attention as Bitcoin mining company <a href="https://ultramining.com/news/en/innovative-mining-pool-ocean-launches-with-jack-dorseys-backing/">OCEAN</a> establishes its headquarters in the country. This move highlights El Salvador's potential as a hub for innovative Bitcoin business operations. OCEAN's president, Mark Artymko, praised the country's hospitality and the supportive environment fostered by President Bukele, according to <a href="https://www.forbes.com/sites/digital-assets/2024/05/29/new-bitcoin-mining-firm-sets-up-headquarters-in-el-salvador/?sh=4d4990293641">Forbes</a>. 
OCEAN's decision aligns with its mission to decentralize Bitcoin mining. The company operates a <a href="https://ultramining.com/en/ratings/">mining pool</a>, allowing miners to combine their hashpower, thereby increasing their chances of earning Bitcoin rewards. Backed by Block’s CEO Jack Dorsey and Bitcoin developer Luke Dashjr, OCEAN offers unique features to miners, such as the ability to choose block types and reduced transaction costs by excluding inscriptions. 
Inscriptions, data added to Bitcoin transactions, increase transaction size and cost. By avoiding these, OCEAN lowers expenses for its miners. This feature is particularly attractive for those looking to maximize their Bitcoin earnings.&nbsp; 
Stacy Herbert, head of Bitcoin Office in El Salvador, welcomed OCEAN’s decision, emphasizing that it reinforces the country’s growing Bitcoin culture. El Salvador’s adoption of Bitcoin as legal tender in 2021 has attracted numerous Bitcoin enthusiasts and companies. The country’s supportive legislation and potential for business development make it an ideal location for OCEAN’s headquarters. 
This development follows the launch of Lava Pool by local company Volcano Energy in October 2023. El Salvador's strategy to integrate Bitcoin into its economy is proving successful, drawing in global businesses and fostering a thriving Bitcoin ecosystem.&nbsp; 
OCEAN’s establishment in El Salvador marks a significant step in its mission to support decentralization and advance Bitcoin adoption globally. The company’s innovative approach and strategic location position it for substantial growth and influence in the Bitcoin mining industry.

New Bitcoin Mining Firm Sets Up Headquarters in El Salvador

Ultramining_Eng

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