- Bitmine now has over 461,000 ETH staked, worth roughly $1.4 billion
- On-chain data suggests the firm may have added nearly 33,000 more ETH
- MAVAN validator network is expected to launch early this year
Bitmine Immersion Technologies is quietly ramping up its Ethereum staking operation. Fresh on-chain data suggests the firm, led by Thomas “Tom” Lee, has increased the amount of ETH it has committed to staking, further cementing its role as one of the largest Ethereum treasury holders in the market.
Staked ETH Continues to Climb
According to data tracked by Onchain Lens, Bitmine now has roughly 461,504 ETH staked, worth about $1.4 billion at current prices. That figure marks a noticeable jump from the company’s own disclosure earlier this week, when it reported 408,627 ETH staked as of December 28. Even then, the staked portion represented only a fraction of Bitmine’s total Ethereum holdings, which exceed 4 million ETH.
Additional on-chain activity hints that Bitmine may not be done accumulating. Analysts have flagged a newly created wallet potentially linked to the firm that appears to have acquired another 32,938 ETH, suggesting continued strategic positioning behind the scenes.
MAVAN Is Central to the Strategy
The expanded staking activity ties directly into Bitmine’s plans for its Made in America Validator Network, or MAVAN. The company is working alongside three external staking providers to bring the validator network online, with a launch expected early this year. MAVAN is being pitched as a secure, institutional-grade staking infrastructure built for scale.
Rather than relying solely on third-party platforms, Bitmine aims to control a larger share of its validation stack, giving it more oversight and operational efficiency as its ETH deployment grows.
Aiming for Meaningful Yield at Scale
If fully deployed across MAVAN and partner validators, Bitmine estimates its Ethereum staking operation could generate around $374 million in annual rewards. At that level, staking becomes more than a passive yield strategy, it turns into a core revenue engine.
For now, the steady increase in staked ETH suggests Bitmine is methodically laying the groundwork, positioning itself to extract long-term value from Ethereum while reinforcing its infrastructure-first approach.
