Bitmine (NYSE:BMNR) lhas aunched MAVAN, an institutional Ethereum (CRYPTO: ETH) staking platform, with Chairman Tom Lee betting $6.8 billion in staked ETH on his thesis that “wars are going to be good for the U.S. economy and the U.S. stock market.”

The War Opportunity Thesis

Lee argues that markets bottom early into conflicts despite short-term uncertainty. 

His research shows that across the last eight major war events, markets consistently bottomed very early into the conflict, creating buying opportunities for investors who can see past the immediate crisis.

“As much as the war is creating obviously a huge short-term setback and a lot of uncertainty, including effects on monetary policy, ultimately wars are going to be good for the U.S. economy and the U.S. stock market,” Lee said.

Lee’s timing reflects his conviction that investors fixate on crisis elements while missing emerging opportunities. 

When things look their worst, markets often do the opposite of what everyone expects. 

He predicts that by year-end, the market will shift from crisis thinking to opportunity thinking as the economic benefits of wartime spending become clear.

The MAVAN Launch

MAVAN, formally named Made in America Validator Network, was built to support Bitmine’s staking operations. 

The company now plans to offer the service to institutional investors, custodians, and exchanges seeking U.S.-based infrastructure for domestic validation alongside globally distributed architecture for international clients.

“Because Bitmine is the largest owner of Ethereum in the world, shortly after launch, MAVAN will be the largest Ethereum staking platform in the world,” Lee said. 

The platform will expand across additional proof-of-stake networks and critical blockchain infrastructure through 2026, growing efforts in onchain vaults and post-quantum client development.

The $6.8 Billion Bet

Bitmine held 3,142,643 staked ETH as of March 24, valued at around $6.8 billion at $2,148 per ETH. 

The company staked 101,776 ETH worth $219 million to MAVAN in the past week and plans to stake nearly all remaining unstaked ETH on the platform in the coming weeks.

Once the treasury migrates fully, Bitmine projects annual staking rewards of nearly $300 million based on a 2.83% seven-day yield. 

The company reported total ETH holdings of 4,660,903 tokens as of March 22, representing 3.86% of total ETH supply. Staked ETH represents approximately 67% of that total.

Ethereum climbed 1.5% over the past 24 hours to $2,183 but remains down more than 55% from its August 2025 record high around $4,900.

BMNR Tests $20 Support

Bitmine is up 3% today, barely holding the $20-$21 horizontal support zone that has acted as a floor in recent weeks. 

Price sits below all EMAs except the 20 EMA at $21.22, with the 50 at $23.39, 100 at $27.52, and 200 at $29.03 all sloping downward.

A break below $20 opens the door to $16 and potentially lower. 

For any bullish case, price must reclaim $23.39 (50 EMA) with conviction. Until then, any bounce is likely just a dead cat within the broader downtrend.

Image: Shutterstock