American Crypto Firm Eyes 2026 Staking Plans Amid Market Turmoil

BitMine, a company that holds large amounts of Ether (ETH) and Bitcoin (BTC), has revealed plans to start staking its ETH holdings. This new venture, called the “Made in America Validator Network” (MAVAN), is set to launch in early 2026. The company is currently testing the waters with three different staking service providers. Staking involves locking up tokens to support a blockchain network and earn rewards. For BitMine, this means using their ETH to help secure the network and earn more ETH in return. The company believes this strategy will benefit its investors in the long run. This announcement comes at a tough time for the crypto market. Many crypto treasury companies, including BitMine, are struggling as their stock prices fall. One key measure, the multiple on-net asset value (mNAV), is dropping, indicating that investors are losing confidence.BitMine is feeling the pinch from falling ETH prices. The company has over $3. 7 billion in losses due to the recent price drops. ETH has fallen from its highs, and BitMine bought a lot of it when prices were much higher. This has left the company with significant losses on each ETH it holds. The drop in ETH prices below $3, 000 has wiped out a year’s worth of gains for companies holding the token. If prices continue to fall, these companies could face even more financial trouble. Attracting new investors will be a challenge when existing ones are already sitting on big losses. BitMine and similar companies are also facing competition from big players like BlackRock and other asset managers. These firms offer lower-cost ways for investors to get exposure to digital assets and staking rewards, making it harder for smaller companies to compete.