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Bitmine (NYSE American: BMNR) has launched MAVAN, a U.S.-built Ethereum staking platform designed to manage and generate yield on its expanding ETH treasury. At launch, MAVAN holds 3,142,643 ETH, valued at roughly $6.8 billion based on a price of $2,148 per coin as of 5:00 p.m. ET on March 24, 2026.
In the week leading up to MAVAN’s debut, Bitmine added 101,776 ETH—about $219 million—to the platform. The company said it plans to migrate nearly all of its remaining unstaked ETH holdings to MAVAN in the coming weeks.
Bitmine based its outlook on a recent seven-day yield of 2.83%, projecting that MAVAN could generate close to $300 million in annualized staking rewards. The company characterized the platform as a revenue engine rather than only a balance sheet asset.
MAVAN uses U.S.-based validator nodes for institutions that require domestic infrastructure, combined with a globally distributed architecture intended to support resilience and performance. Bitmine said the design is aimed at meeting compliance requirements without sacrificing speed or uptime.
The company also disclosed that it is opening MAVAN to institutional clients beyond its own treasury. Custodians, exchanges, and ecosystem partners can stake ETH directly on the network or use a white-label version of the service. Bitmine said it is accepting inquiries for these offerings.
MAVAN is described as the fourth major pillar of Bitmine’s strategy to accumulate and hold approximately 5% of the total ETH supply, which the company calls “the alchemy of 5%.” Bitmine positioned the framework as a long-term positioning play for institutional and public-market investors seeking exposure to ethereum.
Tom Lee, Chairman of Bitmine and Head of Research at Fundstrat Global Advisors, said MAVAN represents a critical step toward building a leading staking and on-chain infrastructure platform. Lee also pointed to plans to expand across additional proof-of-stake networks and develop on-chain vaults and post-quantum client capabilities through 2026.
Bitmine said MAVAN is designed to expand beyond Ethereum, with explicit plans to onboard additional proof-of-stake chains and build broader blockchain infrastructure services over time.
Bitmine said it filed an 8-K with the SEC on March 25, 2026, under Item 7.01 Regulation FD Disclosure. In its most recent 10-K filed November 21, 2025, the company flagged that projections related to staking rewards, ETH migration timelines, and platform expansion are forward-looking and subject to factors including yield variability, client adoption pace, regulatory conditions, and crypto market risk.
Bitmine’s institutional backers include Ark Invest, Founders Fund, Pantera Capital, Galaxy Digital, DCG, Kraken, and Bill Miller III, among others.
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