Hemocyanin, is responsible for keeping the species alive at extreme temperatures. Hemocyanin is a blood-borne protein containing copper atoms that bind to an equal number of oxygen atoms. It's part of the blood plasma in invertebrates.
Blue-hued hemocyanin binds to oxygen in the blood and transports it throughout the octopus's body to supply tissues, a critical factor in its survival. Octopuses have three hearts and need more oxygen than most other invertebrates, so the hemocyanin allows octopuses to get a steady oxygen supply, even when it isn't readily available in their environment. It also ensures that they survive in temperatures that would be deadly for many creatures, ranging from temperatures as low as 28 degrees Fahrenheit (negative 1.8 degrees Celsius) to superheated temperatures near the ocean's thermal vents.
To survive in the deep ocean, octopuses evolved a copper rather than iron-based blood called hemocyanin, which turns its blood blue. This copper base is more efficient at transporting oxygen then hemoglobin when water temperature is very low and not much oxygen is around.