BitMine Immersion Technologies (NYSE: BMNR) has launched MAVAN — the Made in America Validator Network — its proprietary institutional-grade Ethereum staking platform, the company announced on March 25. MAVAN is designed to serve institutions and custodians requiring U.S.-based validation, with a globally distributed architecture for international clients. Per the release, via MAVAN, BitMine will eventually expand staking services for other proof-of-stake blockchains beyond Ethereum, as well as provide crypto infrastructure services.
BitMine currently has 3.14 million ETH staked, making it one of the largest entities staking the second largest cryptocurrency. As of the past week, the firm has staked about 101.7K ETH via MAVAN, and said it plans to eventually scale to staking nearly all of BitMine’s remaining unstaked ETH. Per BitMine’s latest report, the firm holds a total of over 4.6 million ETH. Once its remaining holdings are fully onboarded to MAVAN in the coming weeks, BitMine projects annual staking rewards approaching $300 million at a 2.83% yield, according to today’s press release.
BitMine’s current holdings represent 3.86% of the ETH supply. The launch arrives as the broader Ethereum staking ecosystem continues to see record participation, with over 30% of ETH’s circulating supply now locked in staking contracts. ETH is trading around $2,160 today, well below its August 2025 peak of nearly $5,000.
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