Bitmine Launches Institutional-Grade Ethereum Staking Platform MAVAN

Bitmine Immersion Technologies has officially announced the launch of its self-developed institutional-grade Ethereum staking platform, MAVAN. The platform is built on U.S.-based and globally distributed infrastructure, offering staking services for ETH and other PoS chains to institutions, custodians, and ecosystem partners. Bitmine stated that it has currently staked 3,142,643 ETH, valued at approximately $6.8 billion based on a price of $2,148 per ETH. The company plans to migrate nearly all remaining unstaked ETH to MAVAN in the coming weeks. Based on the current 7-day BMNR yield rate of 2.83%, the annualized staking rewards are estimated to approach $300 million. The company's goal is to make MAVAN the largest Ethereum staking platform globally and capture approximately 5% of the ETH supply.