BitMine, a company focused on cryptocurrency asset management, has announced plans for its “Made in America Validator Network” (MAVAN) aimed at staking its Ether (ETH) holdings to generate revenue. The launch is expected in the first quarter of 2026, as stated in its recent announcement and following a pilot phase with three staking service providers.

Staking ETH allows for the security of proof-of-stake blockchain networks while earning rewards in native tokens, which in this case is ETH. Tom Lee, the chairman of BitMine, commented, “At scale, we believe our strategy will best serve the long-term best interests of our shareholders.”

This plan comes amidst a significant downturn in the crypto market, where crypto treasury companies like BitMine are facing considerable challenges, including unrealized losses totaling over $3.7 billion attributed to falling ETH prices.

As reported, the price of ETH has dropped below $3,000, drastically impacting their holdings that were accumulated during the peak prices in July and August. The struggles of crypto treasury firms underscore a difficult environment for attracting new investors as existing shareholders contend with substantial losses.

BitMine’s stock has taken a hit along with the crypto market. BitMine’s stock has crashed alongside other crypto treasury companies. Source: Yahoo Finance

Additionally, the competitive landscape is shifting with lower-cost investment options emerging from traditional asset managers like BlackRock, which offer alternative ways to engage with digital assets and associated staking rewards.