OCEAN Completes SOC 1 Type 1 Examination

Bitcoin mining pool advances toward Type 2 SOC 1 and SOC 2 reports

Mar. 12, 2026 at 7:45pm

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Mummolin, Inc. announced that its subsidiary, OCEAN, the world's first fully transparent and permissionless Bitcoin mining pool, has successfully completed a SOC 1 Type 1 examination, providing independent third-party validation of the design of controls relevant to enterprise financial reporting workflows. This milestone builds on OCEAN's previous SOC 2 Type 1 attestation and is a step toward achieving Type 2 reports for both SOC 1 and SOC 2 frameworks.

Why it matters

SOC reporting is a commonly requested diligence artifact for enterprise miners, hosting providers, and institutional partners, as it provides assurance around the design and operating effectiveness of controls that support critical financial reporting and operational reliability workflows. OCEAN's completion of SOC 1 Type 1 and its plans for Type 2 reports demonstrate its commitment to building transparent and auditable Bitcoin infrastructure that meets the needs of sophisticated customers.

The details

The SOC 1 Type 1 examination validated the design of controls relevant to enterprise financial reporting workflows, such as reward calculations, payout processes, and reporting controls. This builds on OCEAN's previous SOC 2 Type 1 attestation, which validated the design of controls aligned with the Trust Services Criteria for Security and Availability. OCEAN's next step is to achieve Type 2 reports for both SOC 1 and SOC 2, which will validate the operating effectiveness of these controls over time.

  • OCEAN completed its SOC 2 Type 1 attestation on November 11, 2025.
  • OCEAN completed its SOC 1 Type 1 examination on March 12, 2026.

The players

Mummolin, Inc.

The parent company of Bitcoin OCEAN LLC, operator of the OCEAN mining pool. Focused on building transparent and decentralized Bitcoin infrastructure.

OCEAN

The world's first fully transparent and permissionless Bitcoin mining pool, a subsidiary of Mummolin, Inc.

Nick Watkins

Chief Financial Officer at OCEAN.

Ian Northon

Chief Legal and Compliance Officer at OCEAN.

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What they’re saying

“SOC 1 is about trust in the financial workflows that enterprise customers depend on. Bitcoin mining is already demanding. Our job is to make the pool layer auditable, predictable, and enterprise-ready without compromising the permissionless nature of the system. Completing a SOC 1 Type 1 examination is a meaningful step in meeting the expectations of sophisticated miners and partners.”

— Nick Watkins, Chief Financial Officer

“What miners and enterprise partners want is clarity and evidence. SOC 1 Type 1 translates how reward calculations, payout processes, and reporting controls are designed into a form that risk teams and auditors can rely on. Combined with our SOC 2 Type 1 attestation, it demonstrates that OCEAN built an assurance foundation that scales with institutional requirements.”

— Ian Northon, Chief Legal and Compliance Officer

What’s next

OCEAN's next step is to achieve Type 2 reports for both SOC 1 and SOC 2, which will validate the operating effectiveness of these controls over time.

The takeaway

OCEAN's completion of SOC 1 Type 1 and its plans for Type 2 reports demonstrate its commitment to building transparent and auditable Bitcoin infrastructure that meets the needs of sophisticated enterprise customers, providing them with the clarity and evidence they require.