PANews reported on March 25th that Bitmine Immersion Technologies officially launched its self-developed institutional-grade Ethereum staking platform, MAVAN . Based on a distributed infrastructure in the US and globally, the platform provides ETH and other PoS chain staking services to institutions, custodians, and ecosystem partners. Bitmine stated that it currently has 3,142,643 ETH staked, equivalent to approximately $ 6.8 billion at $ 2,148 per ETH, and plans to migrate almost all of its remaining unstaken ETH to MAVAN in the coming weeks. Based on the current 2.83% seven-day BMNR yield, the annualized staking rewards are close to $ 300 million. The company aims to become the world's largest Ethereum staking platform through MAVAN and capture approximately 5% of the ETH supply.