Bitmine's Staked Ethereum Surpasses 659,000 Units Ahead of MAVAN Rollout

Bitmine Immersion Technologies (BMNR) has staked over 659,000 Ethereum units, signaling progress toward its planned staking infrastructure, the Made in America Validator Network (MAVAN). The company's total Ethereum holdings now exceed 4.11 million ETH, valued at approximately $12.8 billion according to Morningstar's report. The staking initiative is expected to generate annualized staking rewards, with potential daily earnings surpassing $1 million, depending on validator performance and ETH price as Cointelegraph reports.

Bitmine is the largest publicly disclosed Ethereum treasury and the second-largest global crypto treasury, following MicroStrategy's Bitcoin holdings. The company's total crypto and cash holdings exceed $13.2 billion, including strategic investments and cash reserves according to FXStreet. This growth has led to increased institutional interest, with major investors such as ARK Invest, Founders Fund, and Galaxy Digital backing the firm.

MAVAN is slated to launch in early 2026, offering institutional-grade staking infrastructure. The project aims to optimize yield and long-term returns by deploying Ethereum through a secure and regulated network. Bitmine has already staked 408,627 ETH with third-party providers to test performance and operational reliability as Investing.com reports.

Why Did This Happen?

Bitmine's aggressive staking strategy is part of its broader vision to maximize value from its Ethereum holdings. The company has been accumulating ETH since transitioning to an Ethereum-focused treasury in July 2025. The staking of over 659,000 ETH reflects a shift from passive holding to active yield generation as reported in a recent press release.

Tom Lee, Bitmine's chairman, has emphasized the growing importance of tokenization and Ethereum's role in financial markets. He anticipates that institutional demand for yield will continue to drive Ethereum's adoption, particularly as more assets are tokenized and integrated into decentralized finance (DeFi) as BeInCrypto reports.

How Did Markets React?

Bitmine's stock has become one of the most actively traded in the U.S., with an average daily trading volume of $980 million. The company ranks #44 in the U.S. by trading volume among 5,704 listed stocks according to CryptoNews. This liquidity reflects investor confidence in Bitmine's strategic direction, as well as the broader market's interest in crypto-related equities.

Analysts have noted that Bitmine's staking activities align with macroeconomic trends, including increased adoption of stablecoins and regulatory developments supporting crypto infrastructure. The firm's stock price has closely tracked Ethereum's performance, with projections suggesting it could rise to $5,000 per share if ETH reaches $250,000 as CryptoNews reports.

What Are Analysts Watching Next?

Analysts are closely monitoring Bitmine's planned staking yield and how it compares to broader Ethereum staking rates. At current staking rates of 2.81%, Bitmine could earn $374 million annually once its entire ETH holding is staked according to Cointelegraph. This would translate to more than $1 million in daily earnings, provided ETH prices remain stable or increase.

The success of MAVAN will depend on several factors, including validator uptime, Ethereum's price trajectory, and regulatory developments in 2026. Bitmine's January 15 annual meeting will provide further clarity on its governance and strategic goals, including shareholder proposals to increase authorized shares as Decrypt reports.

Institutional investors are also watching for signs that Bitmine's share price will remain accessible to the public, especially if ETH reaches higher price levels. The firm has proposed a potential share split to maintain affordability, which would require increasing its authorized shares to 50 billion as reported in a recent press release.

Bitmine's staking activities have also contributed to increased congestion on Ethereum's validator entry queue, which now stands near 1 million ETH. This suggests growing institutional demand for Ethereum staking rewards as FXStreet reports.