Bitmine Immersion Technologies has launched MAVAN, an institutional-grade Ethereum staking platform that will operate validator infrastructure for both its own holdings and external clients. MAVAN—short for Made in America Validator Network—was built to support Bitmine’s Ethereum treasury and is now being offered to institutions, custodians and exchanges.
Bitmine, the largest publicly traded corporate holder of Ether, has already staked more than 3.1 million ETH and reported staking 101,776 ETH in the most recent week. The company says it intends to increase the share of its holdings allocated to MAVAN and move to stake most of its remaining Ether, projecting staking rewards could approach $300 million annually at current yields.
The platform will rely on U.S.-based infrastructure while maintaining a globally distributed validator footprint. Bitmine plans to expand MAVAN’s services to additional proof-of-stake networks and other blockchain-related offerings as demand grows. The company counts institutional backers including ARK Invest, Founders Fund, Kraken, Pantera Capital, Digital Currency Group and Galaxy Digital.
CoinGecko data show Bitmine holds 4,660,903 ETH overall, adding 238,244 ETH over the past 30 days, and representing roughly 3.86% of total Ether supply. Bitmine has stated a longer-term goal of acquiring about 5% of the total supply.
The launch arrives amid rising institutional demand for compliant, institution-grade staking solutions. Protocols and products are evolving to meet those needs: Lido’s modular upgrade gives institutions more control over validator configuration and withdrawal options; the Ethereum Foundation has begun staking a portion of its treasury, putting around 70,000 ETH into validators to fund ecosystem work; and asset managers have integrated staking into investment vehicles—Grayscale added staking for Ether ETFs, and BlackRock introduced the iShares Staked Ethereum Trust (ETHB), combining spot Ether exposure with staking-based yield.
Ether traded near $2,164 at last report, roughly 4.6% higher over the past year but still well below mid-2025 highs above $4,000.