Bitmine announced the official launch of its Ethereum staking service, MAVAN

Bitmine Immersion Technologies (BMNR) announced the official launch of the Made in America Validator Network (MAVAN) for Ethereum staking. The launch starts the second stage of the company’s treasury strategy for Ethereum. 

Bitmine announced the official launch of its validator program MAVAN, with the goal of attracting institutional stakers. 

MAVAN aims to become a prime Ethereum staking destination for large clients, with a focus on security and high performance, announced Bitmine. 

The platform will build US-based infrastructure, ensuring domestic validation, while being open for global clients. 

MAVAN was initially intended to support Bitmine’s treasury operations and staking, but the company decided to expand the staking and reach out to institutional investors, custodians, and other partners. The end goal is to create a best-in-class staking infrastructure in an otherwise fragmented staking market.

‘MAVAN represents a critical step in our vision to build one of the leading staking and on-chain infrastructure platforms globally,’ said Tom Lee, chairman of Bitmine. 

‘Because Bitmine is the largest owner of Ethereum in the world, shortly after launch, MAVAN will be the largest Ethereum staking platform in the world. We plan to expand across additional proof-of-stake networks and critical blockchain infrastructure over time, and through 2026, we’ll grow our efforts in areas such as on-chain vaults, post-quantum client development, and more,’ said Lee.

Just before launching MAVAN, Bitmine expanded its treasury with another $145M worth of ETH. The company already stakes 3,142,643 ETH, becoming the biggest staking entity in the world. 

Bitmine’s Ethereum staking expects $300M in annual rewards

Bitmine expects to stake even more ETH, in addition to client stakes from MAVAN. Based on a yield of 2.83% annualized, the stake is expected to produce up to $300M annually from block rewards, depending on ETH market prices. 

In the past week, Bitmine added 101,776 ETH to MAVAN and will continue to add more tokens in the coming weeks for nearly all remaining unstaked ETH. 

Bitmine holds 4.60M ETH in total, or 3.8% of the entire ETH supply. In the past 30 days, Bitmine was the only treasury buyer for ETH, expanding its stake by 3.9%. As Cryptopolitan reported, in the past week, Bitmine added 61,000 ETH to its reserves, one of the biggest weekly purchases.

Ethereum treasuries now surpass the holdings of ETF, as Ethereum ETF investors moved out after the October 2025 market crash. | Source: Cryptoquant

In total, treasuries hold 7.33M ETH, surpassing funds with 5.78M ETH following recent outflows. Bitmine’s validator service may tap clients from staking ETF, seeking a reliable partner for secure staking. 

Validators still wait for ETH rewards

ETH staking is slowing down due to the still-high validator queue. Another 2.9M ETH awaits to be staked, with an average waiting time of 50 days. 

ETH traded around $2,169.98, remaining relatively stable. Despite this, ETF and treasury buyers have remained cautious. ETH keeps accumulating into more active wallets while being kept as collateral on lending protocols. The chain remains active and promising to carry traffic, while adapting to institutional usage and mainstream adoption.

ETH is also becoming more inflationary, with a 0.82% annualized inflation rate and over 19K ETH produced weekly. This means that even with staking, ETH will face selling pressure as validators liquidate their stake to realize gains.

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