Bitmine Immersion Technologies this week launched MAVAN, a new institutional-grade Ethereum staking platform. As of March 24, 2026, the company reported over 3.1 million ETH staked, valued at roughly $6.8 billion at a reference price of $2,148 per ETH.
MAVAN Details: U.S. Infrastructure Meets Global Distribution
MAVAN, short for Made In America VAlidator Network, is designed to serve Ethereum and other proof-of-stake networks. Bitmine said the platform combines U.S.-based infrastructure with a distributed global system, focusing on security, operational performance, and network resilience.
The platform initially supported Bitmine's internal Ethereum treasury and now plans to open access to institutional investors, custodians, and partners. Chairman Tom Lee noted that MAVAN is part of a broader infrastructure strategy and will expand into other blockchain services over time.
Staking Scale and Growth: 101,776 ETH Added in a Week
Bitmine holds 3,142,643 staked ETH, which the company claims is the largest Ethereum staking position globally. In the past week alone, it staked 101,776 ETH (approximately $219 million), with plans to continue increasing activity in the coming weeks.
Once fully deployed, nearly all of Bitmine's ETH holdings will operate through MAVAN, with the transition expected to happen gradually as infrastructure scales.
Rewards and Expansion: Nearly $300M Annual Yield
Based on a 2.83% seven-day yield, Bitmine estimates staking rewards could reach nearly $300 million annually. The company also outlined plans to expand into additional proof-of-stake chains and work on blockchain infrastructure, including on-chain vaults and post-quantum client development.