BitMine has launched the Made in America Validator Network (MAVAN), an institutional platform for Ethereum staking, aiming to lead the market.
BitMine has launched its institutional staking platform, the Made in America Validator Network (MAVAN), aimed at managing Ethereum, the second-largest cryptocurrency by market cap.
MAVAN is now operational! We are set to become the world’s largest single-entity staking operation. Stake your Ethereum and other cryptocurrencies with us!
— Bitmine (NYSE-BMNR) $ETH (@BitMNR)
Originally intended for internal use, MAVAN is now open to large investors, custodians, and cryptocurrency exchanges.
“BitMine is the largest holder of Ethereum, and shortly after launching MAVAN, it will become the largest cryptocurrency staking platform globally,” said Tom Lee, the company's chairman.
As of March 24, the platform has locked in over 3.1 million ETH, valued at approximately $6.8 billion, with around 101,776 ETH transferred to MAVAN within the past week.
BitMine plans to move all remaining unstaked Ethereum to MAVAN soon, with the annual yield from staking expected to be around 2.75%, according to Quatrefoil's Composite Ethereum Staking Rate benchmark.
As of March 22, 2026, our total staked ETH is 3,142,643, worth $6.5 billion.
— Bitmine (NYSE-BMNR) $ETH (@BitMNR)
Overall, BitMine manages 4.6 million ETH, equating to nearly 4% of the total Ethereum supply, valued at about $8.94 billion. Lee mentioned that the company intends to branch out into other Proof of Stake networks and enhance critical blockchain infrastructure in 2026, focusing on on-chain storage and post-quantum solutions.
In the last 24 hours, BitMine's shares rose by 3% to $21.4, though the stock has seen a nearly 60% decline over the past six months. Additionally, BlackRock recently launched an Ethereum ETF featuring staking capabilities.
