Ocean
Ocean operates a non-custodial Bitcoin mining pool where miners receive block rewards directly from the network with transparent TIDES payouts, optional DATUM block-template construction, and 1-2% fees. It serves individual Bitcoin miners and institutional mining operations seeking censorship-resistant, SOC-compliant pool infrastructure.
- Company typePrivate
- Founded2023
- HeadquartersCheyenne, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Ocean does
Ocean (operating as Bitcoin Ocean, LLC, a subsidiary of Wyoming-incorporated Mummolin, Inc.) operates a non-custodial Bitcoin mining pool founded in late 2023 by Luke Dashjr, the longest-tenured Bitcoin Core developer and original creator of the Eligius pool. The platform is built around three proprietary technical components: TIDES, a transparent reward distribution system that delivers exact pro rata payouts rather than PPLNS or FPPS approximations; DATUM, a protocol that lets miners construct their own Bitcoin block templates and earn a 50% fee discount; and Lightning payouts via BOLT12 for instant settlement. OCEAN connects miners to its pool endpoint with no account, no KYC, and no custodial holding of rewards — payouts are directed straight from the Bitcoin network coinbase transaction to miner-specified addresses.
The business model is a pure take-rate on mining rewards: a 2% standard pool fee that drops to 1% for DATUM users. The customer base spans individual hobbyist miners through institutional/enterprise operations, with named exposure to large individual miners (one controlling ~27% of pool hashrate at 6.94 Eh/s), Tether as an institutional hashrate deployer (April 2025), and a long tail of ~2,800+ active participants in any three-hour window. Distribution is product-led and self-serve: miners point ASIC hardware at mine.ocean.xyz:3334 using a Bitcoin address as username, with two-minute setup. Marketing is community-led, leaning on founder credibility, Bitcoin Core developer networks, conferences (Future of Bitcoin Mining), and organic social channels (X, Nostr, Bluesky, Mastodon).
Recent strategic posture has shifted toward enterprise readiness: SOC 2 Type 1 attestation completed November 2025 and SOC 1 Type 1 examination completed March 2026, both via independent auditor AARC-360. Geographic footprint was extended via an El Salvador global hub in May 2024, complementing the Wyoming corporate base. As of mid-2026, the pool reports ~26 Eh/s of hashrate, 12,755+ blocks found, and 351,984 BTC mined cumulatively. Capital structure consists of a single $6.2M seed round led by Jack Dorsey (Block) in November 2023, with a syndicate including Accomplice, Barefoot Mining, Bitcoin Opportunity Fund, MoonKite, and New Layer Capital.
Ocean firmographics
Firmographics- Name
- Ocean
- Legal name
- Bitcoin Ocean, LLC
- Website
- https://ocean.xyz
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Ocean operates a non-custodial Bitcoin mining pool where miners receive block rewards directly from the network with transparent TIDES payouts, optional DATUM block-template construction, and 1-2% fees. It serves individual Bitcoin miners and institutional mining operations seeking censorship-resistant, SOC-compliant pool infrastructure.
- Ownership category
- akta.pro rank
Ocean industry classification
Industry- Product category
- Bitcoin Mining Pool
- akta.pro primary industry
- Mining Pools & Pool Operators (FSADAOAB)
- akta.pro secondary industries
- Mining Software, Firmware & Monitoring Platforms (FSADAOAF), Custodial Staking Providers (FSADAHAG)
Keywords
Where Ocean is headquartered
LocationHeadquarters
- HQ city
- Cheyenne
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Ocean business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations, Others
Revenue model
- Pool Mining Fees: OCEAN charges a fee on mining rewards. Standard fee is 2% of block rewards; miners using DATUM for custom block templates receive a 50% discount (1% fee). Revenue is generated through the TIDES reward distribution system which calculates exact pro rata payouts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Mining Pool Fee |
| Transaction based/ take rate | Pay-as-you-go | DATUM Mining Fee |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels8 records
Ocean product offering
Product offeringCore offering
OCEAN operates a non-custodial Bitcoin mining pool where miners point their ASIC hardware to a shared endpoint and receive block rewards paid directly from the Bitcoin network coinbase transaction rather than from a custodial pool wallet. The pool combines the proprietary TIDES reward distribution algorithm (exact pro rata payouts with each proof paid on average 8 times) and DATUM technology that returns block template construction to miners, with Lightning payouts via BOLT12 for instant cashflow and the industry's lowest pool fees (2% standard, 1% for DATUM users).
Product overview
OCEAN is a Bitcoin mining pool operated by Mummolin Inc., a Wyoming corporation, offering a non-custodial, decentralized alternative to traditional mining pools. The platform consists of the core OCEAN Mining Pool product, enhanced by DATUM (which enables miners to create their own block templates), TIDES (a transparent reward distribution system), and Lightning Payouts via BOLT12 for instant payments. The standard pool fee is 2% (or 1% for DATUM users), with miners paid directly from the Bitcoin network rather than through custodial intermediaries.
Differentiator
Problem solved
Functional benefit
Products and services
- OCEAN Mining Pool A decentralized, non-custodial Bitcoin mining pool where miners point their ASIC hardware to mine.ocean.xyz:3334 and receive block rewards paid directly from the Bitcoin network coinbase transaction. Targets solo miners, small-to-medium mining operations, and institutional miners requiring transparent TIDES reward distribution and auditable payout accounting.
Quantifiable outcome
- 26.19 Eh/s current pool hashrate representing significant Bitcoin mining capacity
- +2 more outcomes
Companies that use Ocean
Customer profileNamed customers11 records
Segments3 records
Ideal customer profiles2 records
Ocean technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Ocean partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and flagship.
- TethercoreTether (major stablecoin issuer) announced deployment of hashrate on OCEAN to advance decentralized Bitcoin mining infrastructure. This represents a significant enterprise miner commitment to OCEAN's mission.
- Luke DashjrflagshipCo-founder and Chairman & CTO of OCEAN. Longest-tenured Bitcoin Core developer who wrote early mining pool Eligius in 2011. Maintains Bitcoin Knots and brings deep technical expertise in Bitcoin mining technology.
- Jason Hughes (wk057)coreVP Engineering and co-operated the second-ever Bitcoin mining pool, Eligius. Known security researcher who discovered Tesla vehicle vulnerabilities. Active software developer working toward decentralized Bitcoin future.
- AARC-360coreIndependent auditor providing SOC 2 Type 1 and SOC 1 Type 1 attestations for OCEAN's security and operational controls.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Ocean competitors and assessment
Company assessmentDirect peers
- AntPool: Operated by Bitmain, AntPool is one of the largest global Bitcoin mining pools. Directly competes with OCEAN for miner hashrate, though OCEAN's non-custodial, decentralization-focused model and lower fees differentiate it from AntPool's traditional pool structure and Bitmain's vertically integrated miner business.
- ViaBTC: Major global Bitcoin mining pool offering FPPS, PPS+ and PPLNS payout models. Directly comparable as a competing Bitcoin mining pool serving a similar global miner base, with OCEAN's TIDES and non-custodial architecture positioned as the transparent alternative to ViaBTC's traditional reward schemes.
- F2Pool: One of the longest-running global Bitcoin mining pools, headquartered in China/Asia. Directly comparable as a Bitcoin mining pool serving both retail and institutional miners worldwide, with similar global reach and PPLNS/FPPS-style reward structures that OCEAN's TIDES system aims to disrupt.
- SpiderPool: Asia-focused Bitcoin mining pool serving Chinese and global miners. Comparable as a competing Bitcoin mining pool, though OCEAN's transparency, decentralization and non-custodial design differentiate it from SpiderPool's traditional pool offering.
- Luxor Technology: Bitcoin mining pool and hashrate-focused infrastructure provider offering FPPS and other pool services plus a Hashrate Derivatives marketplace. Directly comparable as a Bitcoin mining pool serving both retail and institutional miners, with broader hashrate-financialization products OCEAN could expand into.
- Braiins Pool (formerly Slush Pool): The world's first Bitcoin mining pool (launched 2010), now operated by Braiins. Closely comparable as a long-tenured, transparency-focused Bitcoin mining pool; both pools emphasize open-source tooling, miner empowerment and non-custodial ethos. OCEAN is the spiritual successor to this decentralized pool philosophy.
- Foundry USA Pool: One of the largest North American Bitcoin mining pools operated by Foundry Digital (Digital Currency Group). Directly comparable as a Bitcoin mining pool serving institutional and enterprise miners, though OCEAN differentiates on decentralization and non-custodial design versus Foundry's FPPS-style payouts and vertically integrated miner services.
Emerging players
- Hashlabs (Bitfarms affiliated): Bitcoin mining pool and hashrate infrastructure company with ties to public mining operators. Comparable as an emerging institutional-grade Bitcoin mining pool competitor, with somewhat overlapping target customer base among enterprise miners.
Broad incumbents
- Bitdeer: Public Bitcoin mining company and infrastructure provider that operates its own mining pool alongside hosting and cloud-mining services. Comparable insofar as it operates pool infrastructure, but broader in scope (vertically integrated mining, hosting, ASIC manufacturing via Bitmain relationship) while OCEAN remains focused purely on pool software and decentralization.
- MARA Pool: MARA Holdings (formerly Marathon Digital) operates its own vertically integrated Bitcoin mining pool as part of its publicly traded mining business. Comparable as a pool targeting institutional miners, though MARA is broader in scope (self-mining, hosting, treasury) while OCEAN focuses purely on pool infrastructure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Ocean social profiles
Digital presenceOcean compliance and trust
Trust signalCompliance2 records
Ocean financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ocean leadership team
Management profileNumber of profiles
Profiles11 records
Ocean funding detail
Funding detailFunding overview
Funding rounds1 record
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ocean M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ocean
What does Ocean do?
OCEAN operates a non-custodial Bitcoin mining pool where miners point their ASIC hardware to a shared endpoint and receive block rewards paid directly from the Bitcoin network coinbase transaction rather than from a custodial pool wallet. The pool combines the proprietary TIDES reward distribution algorithm (exact pro rata payouts with each proof paid on average 8 times) and DATUM technology that returns block template construction to miners, with Lightning payouts via BOLT12 for instant cashflow and the industry's lowest pool fees (2% standard, 1% for DATUM users).
Is Ocean a public or private company?
Ocean is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ocean founded?
Ocean was founded in 2023. It employs 11 to 50 people.
Where is Ocean based?
Ocean is headquartered in Cheyenne, United States, in the North America region.
How does Ocean make money?
One revenue line is on record: pool Mining Fees.
Who are Ocean's main competitors?
Direct peers on record are AntPool, ViaBTC, F2Pool, SpiderPool, Luxor Technology, Braiins Pool (formerly Slush Pool) and Foundry USA Pool. Hashlabs (Bitfarms affiliated) is listed as an emerging player. Broad incumbents are Bitdeer and MARA Pool.
Does Ocean have an API?
No public API is recorded for Ocean.
What industry is Ocean in?
Ocean's product category is Bitcoin Mining Pool. Its primary akta.pro industry code is FSADAOAB, Mining Pools & Pool Operators, with a secondary code of FSADAOAF, Mining Software, Firmware & Monitoring Platforms.