BitMine (BMNR), under the leadership of Chairman Thomas “Tom” Lee, is preparing to launch the US-based MAVAN Validation Network in early 2026. This is a US-based Ethereum Staking infrastructure designed to leverage the company's massive ETH holdings to generate returns.
The company has garnered attention due to predictions suggesting MAVAN could generate over $1 million per day from ETH Staking rewards. However, this is only a potential figure, as many conditions must simultaneously occur for this scenario to become a reality.
Ethereum's dominance and BitMine's Staking ambitions.
Currently, BitMine holds 4,110,525 ETH Token, valued at approximately $12 billion. This is the largest publicly available Ethereum holdings and ranks second in total crypto assets, after MicroStrategy .
Of that amount, 408,627 ETH (equivalent to approximately $1.2 billion) were Staking through a third party as BitMine tested MAVAN before its full rollout.
Once MAVAN is fully operational, it could theoretically generate $374 million annually from Staking rewards, Medium $1 million per day. However, there are still important factors to consider.
The company is continuously increasing ETH holdings by purchasing tens of thousands of Token each week. Last week alone, BitMine bought an additional 44,463 ETH, consistent with its "new money inflow" strategy.
BitMine's total assets, including cryptocurrencies, cash, and strategic "moonshot" investments, currently stand at $13.2 billion, backed by institutional investors such as ARK Invest, Founders Fund, Pantera Capital, Galaxy Digital, and Kraken .
BMNR is currently trading at an Medium daily volume of $980 million, ranking 47th among US stocks – demonstrating high liquidation and strong market interest.
Understanding the story of BitMine's $1 million a day earnings
The figures mentioned above do not represent a guaranteed cash flow. Ethereum Staking rewards are paid in ETH and can fluctuate depending on validator performance, network status, and the market price of ETH .
Ethereum (ETH) price fluctuations. Source: BeInCryptoAn estimated $1 million per day is calculated by multiplying the amount of ETH Staking by the expected annual rate of return (currently based on the Ethereum Composite Staking Rate Index – CESR – of 2.81%) and then converting it to USD.
Based on BitMine's current ETH Staking amount , the actual daily reward is only around $100,000–$167,000 if we take the current ETH price as a 3%–5% annual Staking yield.
To reach the $1 million/day mark, BitMine needs to meet the following conditions:
- The amount of ETH Staking has reached millions of Token, meaning a large portion of BitMine's ETH reserves are being utilized.
- The validator's performance must be robust, with continuous operation time and no significant penalties or interruptions.
- Staking yields remain good, ideally further benefiting from MEV or new incentives from the system .
- The price of ETH remains high, ideally higher than its current price.
- Efficient operation and compliance with regulations are essential to ensure the infrastructure remains stable.
Strategic position and regulations
MAVAN emphasizes the importance of US-developed infrastructure and compliance with domestic regulations, thereby building confidence with institutional investors concerned about legal risks in the US.
BitMine's overall strategy, dubbed "Alchemy of 5%," aims to hold 5% of the global ETH supply, combining balance sheet optimization, leveraging Staking revenue, and investing in promising projects.
MAVAN marks a major transformation for BitMine, moving from a passive ETH accumulation entity to participating in Staking and network building on an institutional scale.
The $1 million per day figure is only achievable under certain conditions, and this is merely a forecast, not a guaranteed revenue stream.
This scenario will only become a reality if BitMine maximizes its ETH Staking , ensures the validator remains continuously active, and prevents a significant drop in ETH price.
BitMine's shareholders' meeting on January 15, 2026 will further clarify the company's governance direction and development strategy.
This could involve proposals to expand the number of shares issued, approve incentive programs, and agree on MAVAN's development goals – in line with the management's vision.
