{"id":127174,"date":"2025-04-15T01:15:33","date_gmt":"2025-04-15T01:15:33","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127174"},"modified":"2025-04-15T01:15:33","modified_gmt":"2025-04-15T01:15:33","slug":"tether-partners-with-ocean-mining-pool-to-decentralize-bitcoin-block-building","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127174","title":{"rendered":"Tether partners with OCEAN mining pool to decentralize Bitcoin block-building"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsStablecoin issuer Tether has announced it intends to deploy its existing and future Bitcoin hashrate to OCEAN\u2019s Bitcoin mining pool in an effort to strengthen the network\u2019s decentralization.<br \/>\n\u201cDeploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,\u201d Tether\u2019s CEO Paolo Ardoino said in an April 15 statement.<br \/>\nSource: OCEAN MiningWhile Bitcoin hashrate is decentralized, the block-building process conducted by mining pools is mostly centralized by a few dominant actors \u2014 most notably Foundry USA, AntPool and ViaBTC.<br \/>\nThe OCEAN protocol attempts to decentralize this process by empowering miners to build their own block templates using their open-source DATUM protocol, reducing dependency on centralized intermediaries and enhancing censorship resistance, Tether said.<br \/>\nTether\u2019s deployment would leverage OCEAN\u2019s DATUM software across all of its mining operations worldwide, including in rural areas in Africa.\u00a0<br \/>\n\u201cBy enabling on-site generation of unique block templates and aggregating thousands of rig connections with low-latency performance, DATUM ensures global competitiveness while promoting geographic and operational diversity,\u201d Tether said.<br \/>\nRelated: Inside the Trump-backed Bitcoin mining mega-deal with Hut 8<br \/>\nTether currently deploys Bitcoin hashrate at sites in Uruguay, Paraguay and El Salvador, where the $144 billion stablecoin issuer is also headquartered.<br \/>\nThose initiatives emerged around the time Tether announced it would invest $500 million into Bitcoin mining in late 2023.<br \/>\nOCEAN was created by Bitcoin core developer Luke Dashjr in 2023 and has been backed by the likes of Block CEO Jack Dorsey. OCEAN also relocated its headquarters to El Salvador in May 2024.<br \/>\nDashjr sparked controversy in December 2023 when he slammed Bitcoin Ordinals users for clogging the network with \u201cspam.\u201d However, he refuted claims that OCEAN censored the non-fungible token-like transactions.<br \/>\nOCEAN still has a lot of market share to capture<br \/>\nThe OCEAN protocol currently mines between 0.2% to 1% of Bitcoin blocks, according to mempool.space data.<br \/>\nIt has mined nine blocks over the last week, including two in a row at 892342 and 892343 on April 14.<br \/>\nHowever, OCEAN\u2019s output remains a fraction of that seen by Foundry USA, AntPool and ViaBTC, which have mined 331, 199 and 161 Bitcoin blocks, respectively, over the same timeframe \u2014 accounting for over 66% of all blocks.<br \/>\nThe Tether partnership would likely provide a much-needed boost to OCEAN\u2019s hashrate, which has amounted to 18.3 exahashes per second (EH\/s) over the last 24 hours.<br \/>\nOCEAN protocol\u2019s Bitcoin mining statistics. Source: mempool.spaceBy comparison, Foundry USA\u2019s hashrate over the same timeframe has exceeded 298 EH\/s, leveraging hashrate from the likes of Bitcoin mining firms Hut 8, Bitdeer and Bitfarms.<br \/>\nMagazine: Financial nihilism in crypto is over \u2014 It\u2019s time to dream big again<a href=\"https:\/\/cointelegraph.com\/news\/tether-partners-ocean-mining-pool-make-bitcoin-more-decentralized?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsStablecoin issuer Tether has announced it intends to deploy its existing and future Bitcoin hashrate to OCEAN\u2019s Bitcoin mining pool in an effort to strengthen the network\u2019s decentralization.&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127174"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127174"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127174\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127174"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}