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BitMine Launches Proprietary Ethereum Validator Network MAVAN

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Tom Lee’s firm is the largest public holder of ETH, and the second largest digital asset treasury company.

BitMine Immersion Technologies (NYSE: BMNR) has officially launched MAVAN — the Made in America Validator Network — its proprietary institutional-grade Ethereum staking platform, the company announced on Wednesday, March 25.

The move marks a major operational milestone in BitMine’s pivot from Bitcoin miner to what Chairman Tom Lee is calling “one of the leading staking and on-chain infrastructure platforms globally,” per the release.

MAVAN is designed to serve institutions and custodians requiring U.S.-based validation, with a globally distributed architecture for international clients. Per the release, via MAVAN, BitMine will eventually expand staking services for other proof-of-stake blockchains beyond Ethereum, as well as provide crypto infrastructure services.

BitMine currently has 3.14 million ETH staked, making it one of the largest entities staking the second largest cryptocurrency. As of the past week, the firm has staked about 101.7K ETH via MAVAN, and said it plans to eventually scale to staking “nearly all of Bitmine’s remaining unstaked ETH.”

Per BitMine’s latest report on Monday, the firm holds a total of over 4.6 million ETH. Once its remaining holdings are fully onboarded to MAVAN in the coming weeks, BitMine projects annual staking rewards approaching $300 million at a 2.83% yield, according to today’s press release.

As The Defiant previously reported, the company’s aggressive ETH accumulation has been backed by institutional heavyweights including ARK Invest’s Cathie Wood, Peter Thiel’s Founders Fund, Pantera, Galaxy Digital, and DCG, all aligned behind the firm’s goal of owning 5% of all ETH in circulation. BitMine’s current holdings represent 3.86% of the ETH supply.

The launch arrives as the broader Ethereum staking ecosystem continues to see record participation, with over 30% of ETH’s circulating supply now locked in staking contracts. ETH is trading around $2,160 today, well below its August 2025 peak of nearly $5,000.

As The Defiant has reported, Lido remains by far the dominant Ethereum staking entity, with approximately 8.9 million ETH staked across its liquid staking protocol, per data from Dune Analytics.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

Google to Make Quantum Migration by 2029

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Google has set a 2029 deadline for its post-quantum cryptography (PQC) migration, warning that “quantum frontiers” could be closer than they appear.

On Wednesday, Google said rapid progress in quantum computing hardware and quantum error correction, along with updated estimates of how quickly a quantum machine could break today’s encryption standards, has heightened the urgency to act sooner rather than later.

“Quantum computers will pose a significant threat to current cryptographic standards, and specifically to encryption and digital signatures,” Google said, while also noting that PQC migration is needed for users to use authentication services securely.

This is the first time Google has set a timeline to roll out post-quantum capabilities across its products. The 2029 timeline is earlier than some industry estimates for Q-Day — the point at which quantum computers become powerful enough to break current public-key encryption.

“It’s our responsibility to lead by example and share an ambitious timeline. By doing this, we hope to provide the clarity and urgency needed to accelerate digital transitions not only for Google, but also across the industry.”

Source: JP Richardson

Google’s call for urgency comes as it continues to develop its quantum chip, Willow, which has a computing capacity of 105 qubits, making it one of the most powerful in the industry.

There are also rising concerns that quantum computers could severely disrupt the crypto industry by breaking the cryptographic algorithms used to secure digital assets. However, there is still debate over whether only crypto wallets with exposed public keys are vulnerable or whether all coins are at risk.

Crypto networks also eye post-quantum upgrades

The Ethereum Foundation launched a “Post-Quantum Ethereum” resource hub on Tuesday, focused on protecting the blockchain from future quantum computing threats and securing the billions of dollars in value on the network.

The post-quantum team plans to implement quantum-resistant solutions in Ethereum at the protocol level by 2029, with solutions targeting the execution layer to follow.