Bitmine continues to work with three staking providers as it moves toward the launch of its MAVAN.
Bitmine Immersion Technologies, the Ethereum treasury giant led by Thomas “Tom” Lee, has boosted its staking activity following its latest disclosure.
Data tracked by Onchain Lens shows that Bitmine now has 461,504 ETH staked, valued at approximately $1.4 billion.
Bitmine revealed Monday that it had 408,627 ETH staked as of December 28, representing a small portion of its treasury of more than 4 million ETH.
On-chain data also indicates that the company may have purchased an additional 32,938 ETH through a newly created wallet.
Bitmine is collaborating with three external staking providers in advancing plans for its Made in America Validator Network (MAVAN), slated for release early this year.
Bitmine projects that a full deployment of its ETH through MAVAN and partner validators could yield around $374 million annually in staking rewards. The company says MAVAN is designed as a secure, “best-in-class” infrastructure solution.
