Bitmine Immersion Technologies has launched MAVAN, an institutional-grade Ethereum staking platform. Staking involves locking up Ether to validate transactions on the network in exchange for rewards. MAVAN will run validator infrastructure for Bitmine’s own holdings and external clients. The company has already staked over 3.1 million ETH and plans to stake most of its remaining holdings, estimating annual staking rewards could reach $300 million. Bitmine, backed by investors like ARK Invest and Pantera Capital, aims to acquire 5% of the total ETH supply. The platform will use US-based infrastructure and expand to other proof-of-stake networks.
Top 10 Ethereum treasury companies. Source: CoinGecko
Institutional demand for Ethereum staking is growing, with platforms like Lido and Grayscale offering customizable staking solutions and investment products. BlackRock recently debuted the iShares Staked Ethereum Trust (ETHB), combining spot Ether exposure with staking-based yield. Ether is currently trading around $2,164, up 4.6% over the past year.
Ethereum price chart over the past year. Source: CoinGecko