Bitcoin Mining Pool Ocean Successfully Mines Third Block in Ongoing

Last updated: December 27, 2023 00:25 EST
. 1 min read

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The decentralized Bitcoin mining pool Ocean reached a new milestone this week by successfully mining its third block ever. According to data from Mempool.Space, Ocean mined block number 823,129 on Wednesday morning, earning a total block reward of 7.412 bitcoins. This achievement demonstrates the capabilities of Ocean’s decentralized system, which was launched in November 2022 to promote decentralization in Bitcoin mining.

Ocean’s Bitcoin Mining Capabilities and the Drive for Decentralization.

Mononaut, a key figure at BitfeedLive, an open-source Bitcoin mempool visualizer, brought attention to Ocean’s distinctive mining approach after the milestone.

“The block was constructed using their standard “filtered” template, only containing 1 inscription and 54 op_returns (mostly Runes),” the analyst tweeted. “The filtering cost them ~0.144 BTC in fees, which is an 11.03% reduction in fees or about a 2% reduction in total block reward.”

Ocean found their third block!
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