BitMine to Launch MAVAN Ethereum Validator Network in Early 2026 to Monetize $12B Treasury
BitMine (NYSE-BMNR) plans to launch MAVAN, the Made in America Validator Network, in early 2026 with the goal of monetizing its $12 billion Ethereum treasury through large-scale staking.
Currently, BitMine holds 4,110,525 ETH, the largest publicly disclosed Ethereum treasury, valued at approximately $12 billion.
As of December 28, 2025, the total staked ETH amounted to 408,627 (~$1.2 billion at $2,948 per ETH). MAVAN is undergoing testing with three staking providers ahead of a broader rollout planned for 2026.
In the past week, BitMine added 44,463 ETH to its holdings, bringing its total assets, including crypto, cash, and high-potential investments ('moonshots'), to $13.2 billion, with $1 billion held in cash.
The company has discussed a potential staking revenue narrative of $1 million per day. Annual ETH staking fees are cited at about $374 million (2.81% CESR), dependent on yields and prices.
Backers disclosed include Cathie Wood's ARK, Founders Fund, Pantera, Kraken, Digital Currency Group (DCG), and Galaxy Digital. BitMine aims to control 5% of the Ether supply, a strategy referred to as the 'Alchemy of 5%'.
The regulatory environment includes SEC actions in the staking context, such as the Kraken 2023 case and Coinbase enforcement reconsiderations, which are shaping BitMine’s staking initiatives.
BitMine scheduled its annual stockholder meeting for January 15, 2026, at Wynn Las Vegas. The meeting proxy outlines votes on director matters, capital structure, and incentive plans.
