American Crypto Firm Eyes 2026 Staking Plans Amid Market Turmoil

BitMine, a major holder of Ether (ETH) and Bitcoin (BTC), has announced plans to stake its ETH holdings through a new venture called the "Made in America Validator Network" (MAVAN), set to launch in early 2026. The company is currently evaluating three different staking service providers.

Staking Strategy for Long-Term Gains

Staking involves locking up tokens to support a blockchain network and earn rewards. By staking its ETH, BitMine aims to secure the network while earning additional ETH, a strategy expected to benefit investors over time.

Crypto Market Challenges

This announcement comes amid a difficult period for the crypto market. Many crypto treasury companies, including BitMine, are facing declining stock prices. A key indicator, the multiple on-net asset value (mNAV), is falling, signaling waning investor confidence.

Impact of Falling ETH Prices

BitMine has incurred $3.7 billion in losses due to recent ETH price drops. The company acquired ETH at higher prices, leaving it with substantial losses per token held.

• ETH price drop below $3,000 has erased a year’s worth of gains for companies holding the token.
• If prices continue to decline, these firms could face even greater financial strain.
• Attracting new investors will be challenging when existing ones are already experiencing significant losses.

Competition from Major Players

BitMine and similar companies are also competing with big players like BlackRock and other asset managers, who offer lower-cost ways for investors to gain exposure to digital assets and staking rewards. This makes it harder for smaller firms to compete.