Veteran Bitcoin developer Luke Dashjr exits OCEAN pool - Will hash power follow him to new pool?

OCEAN Mining has completed a buyout of co-founder and 16-year veteran Bitcoin Core developer Luke Dashjr, ending his ownership 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. Holding those board, technical and executive positions had placed him at the center of both OCEAN's governance and its mining-policy decisions.

The private company did not disclose the repurchase price, its remaining ownership structure or successor appointments. OCEAN said it will continue operating its transparent, non-custodial pool, while Dashjr will pursue a new mining venture called CONVOY.

At the reporting cutoff, CONVOY had not published enough to verify an operating pool. Its public profile and the announcement disclosed no endpoint, codebase, participating miners, infrastructure, fees or block-template policy. They also disclosed no transfer of miners, staff other than Dashjr, or infrastructure from OCEAN.

OCEAN still represents a measurable share

A Mempool.space snapshot at 07:07 UTC on Aug. 30 attributed four of the previous 163 Bitcoin blocks to OCEAN, equal to 2.45%. Applying that share to the endpoint's network hashrate estimate produced a block-share-derived estimate of about 24.57 exahashes per second.