Loading article…
Bitcoin developer Luke Dashjr has exited mining pool Ocean following a mutual split. Mummolin Inc. repurchased his equity as he prepares to launch CONVOY.
Bitcoin developer and co-founder Luke Dashjr has resigned from his roles as chairman, chief technology officer, and director of the mining pool OCEAN, effective August 29 [1]. The departure, which follows a mutual separation agreement with parent company Mummolin Inc., marks a complete exit from the firm’s ownership and leadership structure [1].
| At a glance | |
|---|---|
| Departure Date | August 29 |
| Roles Vacated | Chairman, CTO, Director |
| Parent Company | Mummolin Inc. |
| Next Venture | CONVOY |
The separation concludes a period of internal tension, occurring weeks after Dashjr stepped back from his responsibilities following the stalled implementation of BIP-110, a controversial proposal to restrict non-financial data storage on the Bitcoin network [2]. While both parties cited "differing visions" regarding the future of Bitcoin mining and recent protocol developments, they identified no specific technical disagreement [1]. Mummolin Inc. has repurchased all of Dashjr’s equity, though the financial terms of the buyout and his former ownership percentage remain undisclosed [1].
Dashjr intends to continue his work in the sector through a new venture, CONVOY, which he states will focus on the decentralization of Bitcoin mining [1]. Details regarding the project’s technical architecture, commercial model, or launch timeline have not been released [1].
OCEAN continues to operate its non-custodial mining pool, which allows miners to receive block rewards directly rather than through a pool-controlled account [1]. The company, which raised $6.2 million in a 2023 seed round led by investors including Jack Dorsey, has not announced a replacement for Dashjr’s former leadership roles [1].
The pool’s existing arrangements remain in place, including a commitment from Tether to provide mining hashrate to the platform [1]. Despite the leadership change, the company reports no service suspensions or changes to its payout system [1].
The departure leaves the underlying technical disagreements unresolved, as neither party has specified which protocol developments triggered the split. Whether CONVOY will compete directly with OCEAN or pursue a different segment of the mining infrastructure market remains the primary open question.
Coverage is mostly measured — 286 of 300 reports stay neutral.
Every Monday — the token unlocks, Fed dates & catalysts set to move crypto and markets this week. So you’re never blindsided.
Free · 3-min read · one-click unsubscribe
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Aug 31, 2026 · How we report
As of September 2026, Bitcoin's one-month realized volatility is near historic lows. This compressed volatility reflects a period where daily price movements have been contained, though historical data suggests such periods can precede both rallies and declines.
Approximately 71% of Bitcoin's circulating supply is in profit as of September 2026, which creates a potential source of selling pressure. As the price of Bitcoin rises, holders who are in profit may choose to sell their holdings to realize gains, which could counteract upward price momentum.
CoinCorner launched a multisig custody service that splits control of customer keys between the Isle of Man exchange and its US partner, AnchorWatch. This service, which costs 1.5% annually, is insured by Lloyd's of London and is designed for users seeking cold-storage security without managing hardware themselves.
Castle enables users to earn a 12% annual dividend on Strategy's perpetual preferred stock and choose to take that payout in cash, Bitcoin, or a combination of both. The platform automates this process, allowing customers to compound their dividend income into Bitcoin automatically.