Alchemy Research
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BMNR / MAVAN Income Model

Adjust the inputs below. All figures update live. Base case preloaded from the article.

BMNR's stated 5% ETH supply target
Effective fee on AUM
0.755%
Annual treasury income
$389M
5-year total income
$3.17B
5-year base case projection
Year Year-end AUM MAVAN fee income Treasury income Total income
Treasury income sensitivity to ETH price
ETH priceAnnual treasury staking income

Model assumptions: fee take rate benchmarked against Lido (10% of gross rewards). AUM split evenly across SOL, HYPE, and Canton Coin. ETH rewards assume BMNR reaches 5% ETH supply target (~176,800 ETH/year). All figures are estimates, not company guidance.


Not financial advice. I hold shares of BMNR. Alchemy Research