SQ - Block CEO Jack Dorsey Heads $6.2M Investment Round In Decentralized Bitcoin Mining Pool | Benzinga
Block Inc. (NYSE:SQ) CEO Jack Dorsey has led a seed funding round for Mummolin, Inc., a Wyoming-based company that aims to decentralize Bitcoin (CRYPTO: BTC) mining through its new initiative, OCEAN.
What Happened: As per a press release, Mummolin reported a successful $6.2 million seed funding round led by Dorsey. Other participants included investment groups like Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and the Bitcoin Opportunity Fund.
The funds will be deployed to launch OCEAN, a platform designed to tackle the issue of centralization in Bitcoin mining pools – a concern that Dorsey and other investors believe could compromise the unique features of Bitcoin.
OCEAN stands out as the first transparent, non-custodial platform where miners receive block ...