Luke Dashjr exits mining pool Ocean after split over Bitcoin mining’s future
Luke Dashjr has departed from the Bitcoin mining pool Ocean following a mutual agreement regarding the future direction of mining operations. Dashjr plans to launch a new venture called Convoy, while Ocean continues its non-custodial mining services.
Why it matters
The split highlights ongoing internal debates within the Bitcoin community regarding protocol development and the management of non-financial data on the blockchain.
The two sides said the separation was by mutual agreement , reflecting differing views on the future of bitcoin mining and citing recent protocol developments. They did not disclose the value of the equity buyback.
Dashjr, who co-founded Ocean, will launch a new mining venture called Convoy. Ocean said it will continue operating its transparent, non-custodial pool, which pays mining rewards directly to participating miners.
The split comes weeks after Dashjr took a sabbatical from Ocean following the failure of BIP-110, a controversial attempt to restrict the storage of non-financial data on Bitcoin temporarily.
The departure lands in a mining market that is concentrated and under strain. Publicly traded miners have been cutting Bitcoin hashrate and leasing sites and power to AI and high-performance computing . Still, Foundry USA, AntPool and F2Pool produce well over half of recent blocks .
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