OCEAN completed a buyout of co-founder Luke Dashjr, ending his ownership and leadership roles at the Bitcoin mining pool. Dashjr resigned as chairman. Dashjr resigned as chief technology officer. Dashjr resigned as director. OCEAN repurchased all of Dashjr's equity under an Aug. 29 joint statement. OCEAN did not disclose the repurchase price. OCEAN did not disclose its remaining ownership structure. OCEAN did not disclose successor appointments. OCEAN said it would continue operating its transparent, non-custodial pool. Dashjr will pursue a new mining venture called CONVOY. CONVOY had not published enough to verify an operating pool at the reporting cutoff. CONVOY disclosed no endpoint, codebase, participating miners, infrastructure, fees or block-template policy. No transfer of miners, staff other than Dashjr, or infrastructure from OCEAN was disclosed. Mempool.space attributed four of the previous 163 Bitcoin blocks to OCEAN at 07:07 UTC on Aug. 30. Those blocks represented 2.45% of the sample. A block-share calculation produced an estimate of about 24.57 exahashes per second for OCEAN. Mempool.space attributed 29 of 1,007 trailing-week blocks to OCEAN. Those blocks represented 2.88% of the sample. Mempool.space's latest weekly hashrate row put OCEAN at 25.33 EH/s. The row assigned OCEAN 2.86% of the network. OCEAN's share remained within a 2.5% to 3% range across the two windows. The figures measure hashpower directed to OCEAN rather than machines owned by OCEAN. A trailing 24-hour window can change quickly as blocks enter and leave the sample. The joint statement said the separation reflected different visions after recent protocol developments. The statement did not identify BIP-110, Bitcoin Knots, a proof-of-work change or another proposal as the cause. OCEAN added dedicated BIP-110 and no-signal endpoints in July. OCEAN returned its default endpoint to the non-BIP-110 chain on Aug. 9. OCEAN kept both choices live. OCEAN said its DATUM system allowed participating miners to control block construction. No measurable evidence showed that miners or template policy had moved from OCEAN to CONVOY.
OCEAN Completes Equity Buyout of Co-Founder Luke Dashjr
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Summary
OCEAN has finalized a buyout of co-founder Luke Dashjr, removing his equity and leadership roles at the Bitcoin mining pool. Dashjr resigned as chairman, CTO, and director, with OCEAN repurchasing all shares as of August 29. The pool continues to operate with a hashrate of 25.33 EH/s, or 2.86% of the Bitcoin network. Dashjr will launch a new venture called CONVOY. The move comes amid ongoing new token listings and evolving crypto price news. OCEAN did not disclose financial terms or successor appointments.
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