BitMine Launches Ethereum Staking Platform MAVAN, Eyes $300M in Annual Yield | CoinMarketCap
BitMine Launches Ethereum Staking Platform MAVAN, Eyes $300M in Annual Yield
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CMC Crypto News
BitMine Launches Ethereum Staking Platform MAVAN, Eyes $300M in Annual Yield
MAVAN is an acronym for Made in America Validator Network. BitMine originally developed the infrastructure to manage its own staking operations.
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- Ethereum News
Ethereum News
BitMine Immersion Technologies has officially launchedMAVAN, an institutional Ethereum staking platform, as the company moves to put its large Ethereum treasury to work generating yield. The platform is now open to external institutional clients.
MAVAN is an acronym for Made in America Validator Network. BitMine originally developed the infrastructure to manage its own staking operations. The Connecticut-based company said it is now offering access to institutional investors, custodians, and exchanges seeking US-based infrastructure for domestic Ethereum validation.
As of March 24, BitMine held 3,142,643 staked Ethereum, valued at approximately $6.8 billion, at around $2,148 per token. The company said it transferred 101,776 Ethereum worth $219 million to MAVAN in the past week alone. It plans to migrate nearly all of its remaining unstaked holdings to the platform over the coming weeks.
BitMine reported total Ethereum holdings of 4,660,903 tokens as of March 22. That figure represents 3.86% of the entire Ethereum supply. Once the full treasury is migrated to MAVAN, the company projects annual staking rewards of approximately $300 million, based on a seven-day average yield of 2.83%.
Chairman Tom Lee, co-founder of research firm Fundstrat, said that because BitMine is the largest corporate holder of Ethereum in the world, MAVAN would quickly become the largest Ethereum staking platform globally after launch. Lee said the company plans to expand MAVAN’s support to additional proof-of-stake networks. He added that BitMine would also develop on-chain vault strategies and post-quantum client solutions through 2026.
BitMine’s staking revenue totaled nearly $1 million in the three months ended Nov. 30. That figure was offset during the same period by a $5.4 billion unrealized loss on holdings, which also included 196 Bitcoin on its balance sheet. The company’s stock rose about 1% to $21 on Tuesday, though it has fallen 57% over the past six months.
Coinbase has offered institutional staking services for several years. The exchange reported$15.2 billion in assets staked by institutional clients and $7.5 billion from individual investors as of December, across eight supported networks. Ethereum climbed 1.5% over the past 24 hours to $2,183 on Tuesday. It remains more than 55% below its record high of approximately $4,900 set in August 2025.
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Ayesha Aziz
I’m a crypto writer and an environmental scientist.
