Tom Lee’s Bitmine debuts MAVAN Ethereum staking platform, plans to shift its ETH activity

Bitmine Immersion Technologies (BMNR) announced the launch of MAVAN (Made in America VAlidator Network), an institutional-grade Ethereum staking platform designed to generate yield on its $6.8 billion in staked ETH. Initially built for Bitmine's internal operations, the platform will now be offered to institutional investors, custodians, and exchanges seeking U.S.-based validation infrastructure. Bitmine Chair Tom Lee stated that MAVAN will become the world's largest Ethereum staking platform shortly after launch due to Bitmine being the largest owner of Ethereum globally. The company, which held 3,142,643 staked ETH as of March 24, plans to stake nearly all its remaining unstaked ETH onto MAVAN in the coming weeks. Once fully migrated, Bitmine projects annual staking rewards of nearly $300 million based on a 2.83% seven-day yield. Lee also indicated plans to expand into other proof-of-stake networks and critical blockchain infrastructure, including onchain vaults and post-quantum client development through 2026.

(Source：The Block)