Bitmine Launches Institutional Ethereum Staking Platform MAVAN
Ethereum uses a proof-of-stake mechanism that allows token holders to earn staking rewards by validating transactions, making compliant validator infrastructure critical to institutional ETH allocations. Bitmine Immersion Technologies initially built MAVAN for its own ETH treasury but is now offering it to custodians, exchanges and institutional investors, signaling an expansion of corporate asset management into infrastructure services.
Bitmine launched MAVAN on March 25, 2026. As of March 24, it had staked 3,142,643 ETH worth about $6.8 billion, after adding 101,776 ETH, or roughly $219 million, in the preceding week. The company holds 4,660,903 ETH and plans to stake nearly all of the remaining balance within weeks. Based on a seven-day annualized yield of 2.83%, annual rewards could approach $300 million.
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The history behind this eventBitmine Launches Ether Staking as Quarterly Revenue Reaches $46 Million
Former Bitcoin miner Bitmine launched the institutional-grade MAVAN Ether staking platform in response to Ethereum’s shift to proof of stake, beginning its transition from conventional mining to staking-based validation. The service allows institutions to lock up assets, help secure the network and earn returns. The development is significant because it shows that blockchain infrastructure companies can successfully reshape their business models and generate substantial profits through new validation services.
Bitmine generated $45.7 million in Ether staking and validation revenue in the second quarter of 2026, accounting for 98% of its total revenue, according to its latest financial results. The company has also staked 85% of its Ether holdings. The figures show that its shift from Bitcoin mining to Ether staking has delivered significant results, with staking formally replacing mining as its largest source of revenue for the quarter.
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