OCEAN co‑founder Luke Dashjr exits mining pool, launches CONVOY

Luke Dashjr, co‑founder of the OCEAN Bitcoin mining pool, left the organization on August 29 after a mutual separation agreement with its parent company, Mummolin Inc. He stepped down from his roles as chairman, chief technology officer, and director, and Mummolin repurchased all of his equity, ending his ownership stake.

Reason for the split

Both parties cited “different visions for the future of Bitcoin mining following recent protocol developments.” No specific technical disagreement or protocol proposal was identified in the joint statement.

Impact on OCEAN

OCEAN will continue operating its transparent, non‑custodial mining pool, which sends block rewards directly to miners. The company has not announced a replacement for Dashjr’s leadership positions or how his technical responsibilities will be reassigned.

New venture: CONVOY

Dashjr plans to launch a new project called CONVOY, aimed at furthering decentralized Bitcoin mining. Details about the venture’s structure, services, or timeline have not been disclosed.

Background

Dashjr previously founded the Eligius mining pool and helped launch OCEAN in 2023. OCEAN, operating through Bitcoin Ocean LLC, raised $6.2 million in a 2023 seed round and introduced the DATUM protocol to give miners more control over block templates.

What’s next

OCEAN must clarify its leadership and technical roadmap, while CONVOY is expected to publish further information about its team and offerings.