At Bitmern Mining LLC, we are committed to upholding the highest standards of compliance with applicable laws and regulations related to the prevention of money laundering, terrorist financing, and other illicit financial activities. This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy outlines the measures we take to verify customer identities, monitor transactions, and ensure a secure and transparent platform.

1. Purpose

This policy aims to:

  • Prevent the use of our services for money laundering or terrorist financing
  • Verify the identity of our customers (KYC)
  • Monitor and report suspicious activities
  • Maintain regulatory compliance in all jurisdictions where we operate

2. Scope

This policy applies to:

  • All users and customers of Bitmern Mining LLC
  • All services provided by Bitmern Mining, including hosting, miner sales, consultations, and infrastructure support
  • All operating regions, including the United States and Ethiopia

3. Customer Due Diligence (CDD)

We apply a risk-based approach to verifying the identity of our customers.

a. Standard KYC Requirements

Customers may be asked to submit:

  • Full legal name
  • Date of birth
  • Nationality
  • Government-issued ID (passport, national ID, or driver’s license)
  • Proof of address (e.g., utility bill or bank statement)

b. Enhanced Due Diligence (EDD)

For higher-risk accounts, larger transactions, or based on jurisdictional risk, we may request:

  • Source of funds or wealth
  • Nature of business or investment
  • Additional documents or interviews

4. Verification Methods

We use a combination of manual verification and third-party services to validate identity documents and detect falsified or suspicious data. All information is handled securely and in accordance with our Privacy Policy.

5. Ongoing Monitoring

  • We continuously monitor transactions and user activity for signs of suspicious or unusual behavior.
  • High-risk transactions are flagged for review.
  • We reserve the right to request re-verification or pause account access if activity triggers compliance concerns.

6. Sanctions and Prohibited Jurisdictions

We do not provide services to:

  • Individuals or businesses listed on international sanctions lists (e.g., OFAC, EU, UN)
  • Users from embargoed or high-risk jurisdictions

We reserve the right to refuse service or terminate accounts that conflict with our compliance obligations.

7. Record Retention

We retain:

  • KYC documentation and verification data for at least 5 years
  • Transactional data for internal audit, legal, and regulatory purposes
    These records are securely stored and protected from unauthorized access.

8. Employee Training

Our staff receives ongoing training on:

  • Recognizing red flags related to money laundering
  • Customer onboarding procedures
  • Internal escalation and reporting processes

Training is updated regularly to reflect changes in global compliance standards.

9. User Responsibilities

By using Bitmern Mining services, you agree to:

  • Provide accurate and up-to-date personal information
  • Cooperate with any KYC/AML requests
  • Refrain from using our platform for any unlawful or prohibited activities

10. Policy Updates

We may update this AML/KYC Policy as needed to reflect regulatory changes or improvements in our procedures. Updates will be posted on this page with a revised “Last Updated” date.

11. Contact Us

If you have any questions regarding this policy or need to submit documents for verification, contact:

Bitmern Mining LLC
30 N Gould St Ste R, Sheridan, WY 82801
Email: contact@bitmernmining.com

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