MAVAN staking platform
Launched March 2026; staking about 5.07 million ETH, most of the company's holdings.
The numbers
What it is
MAVAN is BitMine's Ethereum staking platform. It was built for the company's own ETH and combines U.S.-based validators for institutions that need domestic validation with a globally distributed setup. BitMine says it plans to take on outside institutional clients, custodians and partners.
Why it matters to the stock. Staking is now the company's largest revenue source. A third-party client would turn it into a fee business, but no outside client wins have been confirmed.
News
BitMine posts $83.6 million net loss on $45.7 million staking revenue for quarter to May 31
BitMine's quarterly report for the three months ended May 31, 2026 showed revenue of $46.5 million, of which $45.7 million came from staking and validation, up from none a year earlier.
BitMine's ETH holdings reach 5.42 million with 4.72 million staked
BitMine reported 5,416,901 ETH as of May 31, 2026, about 4.49% of the ETH supply, with total crypto, cash and other holdings of $11.6 billion.
BitMine launches MAVAN, its Ethereum validator network, for institutional clients
BitMine officially launched MAVAN (Made in America Validator Network), its proprietary Ethereum staking platform.