![Decentralized mining pool OCEAN by Jack Dorsey joins Bitcoin hash rate surge](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/11/bitcoin-mining-ocean.jpg&w=70&h=37&q=75)
Quick Take
The Bitcoin mining hash rate continues to experience a significant upturn. The decentralized Bitcoin mining pool, OCEAN, spearheaded by Jack Dorsey, is noteworthy. It has recently commenced operations, reaching an impressive 126 ph/s, or approximately 0.024% of the total hash rate network, estimated at 550 eh/s. Given its decentralized nature, projections indicate a potential increase in OCEAN’s hash rate contribution over time.
![Ocean Hash Rate: (Source: ocean.xyz)](https://cryptoslate.com/wp-content/uploads/2023/11/ocean.png)
Furthermore, a comprehensive review by mining analyst Sebastian Skiย reveals that the percentage of the Bitcoin Network Hashrate for public miners sits at 25% for 2023, maintaining stability for the year yet representing a considerable rise from the 16% recorded at the start of 2022.
![Public Bitcoin Miners percentage of Network Hashrate: (Source: @sebastian_ski)](https://cryptoslate.com/wp-content/uploads/2023/11/HR-3.png)
These developments underscore the dynamic nature of the Bitcoin hash rate landscape, especially as the market prepares for the anticipated halving event in April 2024.