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. BitMines 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). 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. 🧵BitMine provided its latest holdings update for Dec 29th, 2025: $13.2 billion in total crypto + "moonshots": 4,110,525 ETH at $2,948 per ETH (@coinbase) 193 Bitcoin (BTC) $23 million stake in Eightco Holdings (NASDAQ: ORBS) (moonshots) and total cash of $1.0 Bitmine (NYSE-BMNR) $ETH (@BitMNR) December 29, 2025 BMNR trades with an average daily dollar volume of $980 million, ranking #47 among US stocks, which illustrates strong liquidity and market engagement. Understanding BitMines $1 Million-Per-Day Narrative The headline figure does not represent guaranteed cash flow. Ethereum staking rewards are paid in ETH and fluctuate with validator performance, network conditions, and ETHs market price. Ethereum (ETH) Price Performance. Source: BeInCrypto The $1 million-per-day estimate is derived by multiplying the staked ETH by projected annual yields (currently benchmarked against the Composite Ethereum Staking Rate, CESR, at 2.81%) and converting the result to USD. Based on BitMines current staked ETH, actual daily rewards would be closer to $100,000$167,000 at current ETH prices and 3% to 5% annual staking yield. Achieving $1 million per day would require: A multi-million ETH stake, essentially deploying the vast majority of BitMines treasury. Strong validator performance with minimal downtime or penalties. Favorable staking yields, potentially boosted by MEV or other validator incentives. ETH prices remaining elevated, ideally above current levels. Operational execution and regulatory compliance to maintain infrastructure efficiency. Strategic and Regulatory Positioning MAVAN emphasizes domestic infrastructure and regulatory alignment, appealing to institutional investors wary of US compliance risks. BitMines broader strategy, known as the Alchemy of 5%, aims to hold 5% of the total ETH supply, combining balance sheet optimization with yield generation and strategic investments. BitMine now has 3% of the ETH supply Two-thirds on the way to the Alchemy of 5%👏👏👏👏 Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) November 24, 2025 MAVAN represents a significant step in BitMines growth from passive ETH accumulation to active staking and institutional-grade network participation. While the $1 million-per-day figure is plausible under certain scenarios, it remains a projection rather than a confirmed revenue line. Only if BitMine maximizes its staked ETH, maintains high validator uptime, and ETH prices remain strong could the estimate be approached. BitMines January 15, 2026, stockholder meeting will further clarify the companys governance and strategic roadmap. This may include proposals to expand its authorized shares, approve incentive plans, and align executives with MAVANs growth ambitions. Read the article at BeInCrypto