Bitcoins
Bitcoins TLDR
- Tether will deploy its Bitcoin hashrate to Ocean’s mining pool to promote decentralization
- Ocean mining pool was created by Bitcoin core developer Luke Dashjr in 2023
- Tether’s move aligns with its $500 million investment in Bitcoin mining announced in 2023
- Ocean’s DATUM protocol allows miners to build their own block templates independently
- Ocean currently mines only 0.2-1% of Bitcoin blocks compared to dominant pools like Foundry USA
Stablecoin issuer Tether has announced plans to direct both its existing and future Bitcoin mining hashrate to Ocean’s mining pool. The move, announced on April 15, 2025, aims to strengthen the decentralization of Bitcoin’s network by supporting an alternative to the dominant mining pools that currently control most of the block-building process.
Tether CEO Paolo Ardoino explained the decision in a statement, saying “Deploying hashrate to Ocean aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces.” This partnership represents a major endorsement for Ocean, which currently mines only a small fraction of Bitcoin blocks.
Tether to Deploy Hashrate on OCEAN, Advancing Decentralized Bitcoin Mining Infrastructure
Learn more: https://t.co/QVzLawzvwK— Tether (@Tether_to) April 14, 2025
The partnership will leverage Ocean’s Datum protocol across all of Tether’s global mining operations. This includes sites in Uruguay, Paraguay, El Salvador, and rural areas in Africa where the company has been expanding its presence.
The Challenge of Centralization
While Bitcoin’s hashrate is distributed worldwide, the block-building process has become concentrated among a few major mining pools. Data shows that Foundry USA, AntPool, and ViaBTC account for over 66% of all Bitcoin blocks mined in recent periods.
This centralization creates potential vulnerabilities for the Bitcoin network. If a few entities control most of the block production, it raises questions about censorship resistance and the true decentralization of the network.
Ocean’s protocol attempts to solve this problem by allowing miners to build their own block templates using open-source software. This reduces dependency on centralized intermediaries that typically control transaction selection and block creation.
Ocean’s Growing Influence
Ocean was created by Bitcoin core developer Luke Dashjr in 2023 and has received backing from prominent figures like Block CEO Jack Dorsey. The mining pool relocated its headquarters to El Salvador in May 2024, the same country where Tether is headquartered.
Currently, Ocean mines between 0.2% to 1% of Bitcoin blocks according to mempool.space data. The protocol has produced nine blocks over a recent one-week period, with its hashrate measuring about 18.3 exahashes per second (EH/s) over a 24-hour timeframe.
By comparison, industry leader Foundry USA’s hashrate has exceeded 298 EH/s during the same period. Tether’s commitment will likely provide a much-needed boost to Ocean’s mining capabilities.
Africa Expansion Strategy
Tether’s deployment of the Ocean protocol extends to its operations in Africa, where the company has been investing in infrastructure and education. The DATUM Gateway protocol is designed to support mining in regions with limited internet capacity, enabling low-latency and high-throughput mining across diverse geographies.
This initiative builds on Tether’s ongoing work in Africa, which includes partnerships with platforms like Nigerian crypto exchange Quidax to promote digital asset literacy. The company plans to enable on-site deployment of block template software in rural African regions.
Giv Zanganeh, Tether’s VP of Mining and Energy, noted that adopting Ocean followed “months of deep technical evaluation.” The DATUM protocol’s architecture offers the flexibility needed for Tether’s decentralized mining strategy.
Technical Details of the Partnership
The partnership will utilize Ocean’s Decentralized Alternative Templates for Universal Mining (DATUM) protocol. This technology empowers miners to create their own block templates without relying on centralized servers.
By enabling on-site generation of unique block templates and aggregating thousands of rig connections with low-latency performance, the system aims to ensure global competitiveness while promoting geographic diversity in mining operations.
Luke Dashjr, Ocean’s chairman and CTO, stated that Tether’s deployment “reinforces the importance of censorship-resistant mining protocols.” Mark Artymko, Ocean’s president, added that Tether’s participation confirms the pool’s commitment to network neutrality.
“Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces.” @paoloardoino https://t.co/HeyB1ETecz pic.twitter.com/dDVJ93ccYg
— OCEAN (@ocean_mining) April 14, 2025
Tether’s involvement with Ocean comes after the stablecoin issuer announced a $500 million investment in Bitcoin mining in late 2023. The company currently deploys hashrate at multiple international locations and is the issuer of USDT, the third-largest cryptocurrency by market cap.
This partnership represents another step in Tether’s expanding Bitcoin strategy, which also includes plans to make its stablecoin available via Bitcoin and its layer-2 Lightning Network.
Maisie Morrison Read More