OCEAN Achieves SOC 1 Type 1 Examination, Enhancing Trust in Bitcoin Mining

OCEAN's SOC 1 Type 1 Examination: A Major Milestone

In a significant development for the cryptocurrency industry, Mummolin, Inc. has announced that its division OCEAN, recognized as the world's first fully transparent and permissionless Bitcoin mining pool, has successfully completed a SOC 1 Type 1 examination. This milestone marks an important step in reinforcing the company's commitment to robust financial reporting and operational integrity.

SOC (System and Organization Controls) reports are instrumental in providing independent verification of the design and effectiveness of controls that are crucial for financial reporting. For businesses operating in the highly competitive and technologically advanced environment of Bitcoin mining, such validation is paramount. The SOC 1 Type 1 report specifically focuses on the controls related to financial processes, which are essential for OCEAN's client base, including enterprise miners and hosting providers who value dependable and transparent operations.

Nick Watkins, the CFO of OCEAN, emphasized the importance of this achievement, stating, "SOC 1 is about trust in the financial workflows that enterprise customers depend on. Our objective is to deliver an auditable and predictable pool experience while retaining the permissionless ethos that defines Bitcoin. Completing this examination follows our commitment to meeting the stringent expectations of our sophisticated partners and miners."

This milestone is not OCEAN's first foray into establishing a secure operating framework; it builds on the company's earlier SOC 2 Type 1 attestation, achieved in November 2025. The SOC 2 report validated the design of OCEAN’s controls aligned with the Trust Services Criteria, focusing on security and availability. By receiving both SOC 1 and SOC 2 attestations, OCEAN addresses the dual needs of enterprise customers who typically evaluate operational reliability along with reporting and finance workflows.

Ian Northon, Chief Legal and Compliance Officer at OCEAN, further elucidated on the significance of these reports, stating, "What miners and enterprise partners want is clarity and evidence. The SOC 1 Type 1 report translates our operational controls over reward calculations and payout processes into a reliable framework that auditors and risk teams can trust. Coupled with our SOC 2 Type 1 attestation, it’s a strong indicator of OCEAN's commitment to establishing a scalable assurance foundation that meets institutional requirements."

Looking to the future, OCEAN plans to pursue SOC 1 and SOC 2 Type 2 examinations. These forthcoming reports will enable OCEAN's customers to validate not just the design of their controls but also their operational effectiveness over time, thereby fostering increased trust among stakeholders.

Mummolin, Inc. stands at the forefront of facilitating transparent and decentralized Bitcoin infrastructure. The company's mission revolves around constructing open, permissionless systems that empower miners and enhance the core principles of Bitcoin. As the cryptocurrency landscape evolves, OCEAN’s commitment to rigorous compliance and transparency is a beacon of best practices in the industry, paving the way for future innovations and developments.

For interested clients and partners, the SOC reports are available for review under a non-disclosure agreement upon request, ensuring that transparency remains a priority in every transaction and operational process.

The strides made by OCEAN not only highlight the urgent need for rigorous compliance in emerging Fintech but also reaffirm the growing significance and acceptance of cryptocurrencies as viable financial instruments in conventional business dimensions.