BitMine eyes 2026 launch for ETH staking operation, amid market collapse
The post BitMine eyes 2026 launch for ETH staking operation, amid market collapse appeared com. BitMine, a crypto treasury company that accumulates Ether (ETH) and Bitcoin (BTC), said on Friday it plans to launch the “Made in America Validator Network” (MAVAN) to stake its ETH holdings. The company is piloting MAVAN with three staking infrastructure providers, ahead of the launch slated for the first quarter of 2026, according to an announcement from BitMine. Staking tokens to validate proof-of-stake (PoS) blockchains secures networks and generates revenue in the form of staking rewards paid out in the native token of the blockchain network, in this case, ETH. “At scale, we believe our strategy will best serve the long-term best interests of our shareholders,” BitMine chairman Tom Lee said. BitMine’s stock has crashed alongside other crypto treasury companies, which have seen a slow bleed in 2025. Related: Tom Lee speculates wounded market makers behind crypto crunch BitMine suffers alongside plummeting ETH prices and market collapse BitMine is sitting on over $3. 7 billion in unrealized losses due to plummeting ETH prices, according to a report from research company 10x Research. The report, published on Thursday, used an ETH price of $3, 023, but the ETH decline extended on Friday, driving the price down to about $2,700 at the time of writing. The price of ETH has collapsed following an all-time high of over $4,900 in August. ETH’s crash below $3, 000 wiped away a.