Tom Lee’s BitMine Eyes $1 Million-Per-Day Ethereum Yield: What Needs to Line Up for MAVAN to Deliver

BitMine (BMNR), led by Chairman Thomas “Tom” Lee, is gearing up to deploy its Made-in-America Validator Network (MAVAN) in early 2026. The US-based Ethereum staking infrastructure is designed to monetize its massive ETH treasury.

The company has sparked attention with projections suggesting MAVAN could generate over $1 million per day in ETH staking rewards. However, caution arises as several conditions must align for this scenario to become a reality.

BitMine’s Ethereum Dominance and Staking Ambitions

BitMine currently holds 4,110,525 ETH tokens, valued at roughly $12 billion. This makes it the largest publicly disclosed Ethereum treasury and the second-largest in total crypto holdings, behind only MicroStrategy.

Tom Lee(@fundstrat)'s #Bitmine bought another 44,463 $ETH($130M) last week and currently holds 4,110,525 $ETH($12.02B).https://t.co/HtqNP2C0qD pic.twitter.com/ZLBcKEHYIL

— Lookonchain (@lookonchain) December 29, 2025

Of this, 408,627 ETH, worth approximately $1.2 billion, is already staked with third-party providers as BitMine tests MAVAN ahead of its full launch.

Once fully deployed, MAVAN could theoretically generate $374 million annually in staking rewards, translating to the often-cited $1 million-per-day figure. However, there are very important caveats.

The company has been actively increasing its ETH position, with weekly purchases adding tens of thousands of tokens. In the last week alone, BitMine acquired 44,463 ETH, reflecting its “fresh money” strategy.

Its total portfolio, including crypto, cash, and strategic “moonshots,” now totals $13.2 billion, backed by institutional investors such as ARK Invest, Founders Fund, Pantera Capital, Galaxy Digital, and Kraken.