BitMine Doubles Down With New U.S. Ethereum Validator Network

BitMine is deepening its bet in the crypto market at a time when many firms are pulling back. Announced earlier today, the company is planning to launch a new project called the Made in America Validator Network (MAVAN). 

This initiative aims to build a U.S.-based Ethereum staking network to strengthen the company’s long-term position in the Ethereum (ETH) ecosystem amid market uncertainty.

The Made in America Validator Network

BitMine announced that it will begin building a network of Ethereum validators entirely within the United States. The company plans to stake its own ETH reserves through MAVAN. It will begin with three pilot partners who will run small-scale tests.

These tests will examine node performance, service reliability, and security before the network expands. Tom Lee, BitMine co-founder and a leading voice in the crypto industry, shared his optimism about the upcoming project. 

He explained that MAVAN will grow through partnerships with top-tier infrastructure providers. Lee said the company expects to scale the network over the coming quarter as these pilot tests progress. According to him, BitMine aims to begin full ETH staking through MAVAN in early 2026.

BitMine Plans MAVAN Amid Heavy Losses

The launch of MAVAN comes at a challenging time for BitMine. The company still holds about $4 billion in unrealized losses from the market crash. The company’s share BMNR, has fallen 84% since its peak in July. The premium that once lifted the value of its net assets has now vanished.

Despite these setbacks, BitMine continues to add more ETH to its treasury. Tom Lee has repeatedly called the ongoing dip a “golden opportunity.” He argued that buying the coin during downturns is what ultimately leads to strong gains in future cycles. 

In a recent interview with CNBC, he analyzed that the recent crypto liquidation came from a temporary liquidity crunch. He compared the crash to the dry spell that hit the industry after the FTX collapse in 2022. 

The October 10 liquidation event, he noted, was the largest one-day wipeout the market had seen. Lee maintained that long downturns often precede strong recoveries once liquidity flows back into the market.

BitMine Shows Strength Despite Market Turmoil

Even with steep losses, BitMine has posted signs of growth. The company reported $328.1 million in earned income and $13.39 in earnings per share. These earnings suggested that core operations remain healthy despite volatile market conditions.

While BitMine doubles down on accumulation and long-term staking, not every treasury firm is following the same playbook. FG Nexus has begun selling tokens from its reserves as the market worsened. This shows that the company is choosing to lock in profits rather than continue buying.

BitMine’s decision to launch a fully U.S.-built Ethereum validator network shows that the company is thinking far beyond the current downturn.