Bitmine Immersion Technologies (NYSE AMERICAN: BMNR), a publicly traded Bitcoin miner and Ethereum treasury company, has officially launched its proprietary institutional-grade Ethereum staking platform called MAVAN (Made in America VAlidator Network). The platform is designed to be the premier Ethereum staking destination for institutions, emphasizing security, performance, and resilience.
The launch positions MAVAN to become the largest Ethereum staking service provider globally. This claim is backed by Bitmine's existing holdings, as the company is the largest owner of Ethereum in the world. As of 5:00 PM ET on March 24, 2026, Bitmine's total staked ETH stands at 3,142,643 tokens, valued at approximately $6.8 billion based on an ETH price of $2,148. The company staked an additional 101,776 ETH ($219 million) into MAVAN in the week leading up to the announcement.
Tom Lee, Chairman of Bitmine, stated, "MAVAN represents a critical step in our vision to build one of the leading staking and on-chain infrastructure platforms globally. 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."
The platform combines U.S.-based infrastructure for institutions requiring domestic validation with a globally distributed architecture. Originally developed to support Bitmine's own Ethereum treasury strategy, MAVAN now intends to expand its services to institutional investors, custodians, and ecosystem partners.
Bitmine projects that when its entire ETH treasury is fully staked via MAVAN in the coming weeks, the annual staking rewards will be nearly $300 million, based on a 7-day yield of 2.83%. The company's long-term goal, supported by a group of prominent institutional investors including ARK Invest's Cathie Wood, Pantera Capital, Founders Fund, Kraken, DCG, and Galaxy Digital, is to acquire 5% of all ETH.
Looking ahead, Bitmine plans to expand MAVAN's services to other proof-of-stake networks and critical blockchain infrastructure throughout 2026, with initiatives in areas like on-chain vaults and post-quantum client development.
