OCEAN Mining Completes Buyout of Co-Founder Luke Dashjr
OCEAN Mining has completed the buyout of co-founder and 16-year Bitcoin Core developer Luke Dashjr, ending his ownership of the company and three leadership roles at the Bitcoin mining pool.
Dashjr resigned as chairman, chief technology officer and director, while OCEAN repurchased all of his equity, according to an Aug. 29 joint statement. His positions placed him at the center of OCEAN’s corporate governance and mining-policy decisions.
The privately held company did not disclose the repurchase price, its remaining ownership structure or the identities of any successors. OCEAN said it will continue operating its transparent, non-custodial mining pool, while Dashjr plans to pursue a new mining venture called CONVOY.
At the reporting cutoff, publicly available information was insufficient to verify that CONVOY was operating a mining pool. Neither its public profile nor the announcement disclosed an endpoint, codebase, participating miners, infrastructure, fees or block-template policy. The materials also did not disclose any transfer of miners, staff other than Dashjr or infrastructure from OCEAN.
OCEAN retains a measurable share of Bitcoin mining
A Mempool.space snapshot taken at 07:07 UTC on Aug. 30 attributed four of the previous 163 Bitcoin blocks to OCEAN, representing 2.45%. Applying that percentage to the endpoint’s network-hashrate estimate produced a block-share-derived estimate of approximately 24.57 exahashes per second.
The longer-term figures were similar. Mempool.space attributed 29 of the 1,007 blocks mined during the previous week to OCEAN, or 2.88%. Its latest weekly hashrate figure placed the pool at 25.33 EH/s, equivalent to 2.86% of the network.
Across both measurement periods, OCEAN remained within a broad 2.5% to 3% range. That makes potential miner departures measurable without treating the discovery of a single block as evidence of a broader trend.
These figures represent hashpower directed to OCEAN, not mining machines owned by the company. The trailing 24-hour measurement can also change quickly as blocks enter and leave the sample, making it a snapshot rather than a durable measure of market share.
Protocol disagreements preceded the separation
The joint statement said the separation reflected different visions following recent protocol developments. However, it did not identify BIP-110, Bitcoin Knots, a proof-of-work change or any other specific proposal as the cause.
OCEAN added dedicated BIP-110 and no-signal endpoints in July. On Aug. 9, it returned its default endpoint to the non-BIP-110 chain while keeping both options available. OCEAN said its DATUM system allowed participating miners to control block construction.
CryptoSlate’s earlier coverage described the surrounding fork and proof-of-work dispute, but the separation statement did not link the buyout to any particular development.
A functioning CONVOY pool, published mining instructions or a sustained change in OCEAN’s share would offer the first measurable evidence that miners or block-template policy are shifting. The corporate split alone does not establish such a change.
