Pier Two

[[PROJECT:1926]] is an Australian institutional staking provider founded in 2018, operating non-custodial validator infrastructure across Ethereum, Solana, NEAR, Polygon, and TON. The company manages roughly $3 billion in staked assets and holds ISO27001:2022, SOC 2 Type I, SOC 2 Type II, and NORS certifications. It runs multi-zone hybrid cloud and bare metal infrastructure across geographically distributed locations, targeting 99.99% uptime with slashing coverage for clients.

Solana Staking

The Solana offering centers on delegated staking. Users delegate SOL to Pier Two's validator, retaining full withdrawal rights and custody at all times. There is no minimum or maximum stake size. Rewards accrue each epoch, approximately every 48 hours, with withdrawals completing in up to 48 hours. The stated annual percentage rate is 6.61%. Because Solana has no in-protocol slashing mechanism, Pier Two's slashing coverage functions primarily as protection against validator misconfiguration and performance failures rather than cryptographic penalty events.

Clients manage positions through the Control Centre, a dashboard that supports reward monitoring, on-demand withdrawals, reward claims, and custom reporting. An API layer allows institutions to integrate SOL staking into proprietary systems and custody workflows. Pier Two connects with hardware and software wallets including Ledger, Phantom, Trust Wallet, Solflare, and Coinbase, and offers native staking integrations through institutional custody platforms BitGo, Zodia, and [[PROJECT:667]].

The Fireblocks integration launched June 26, 2025, initially supporting Solana with other networks planned. It allows institutions to initiate and manage SOL staking positions from within the Fireblocks console rather than through separate workflows, reducing operational complexity for teams already using Fireblocks for asset custody. Pier Two also supports infrastructure for [[PROJECT:228]] restaking and operates nodes for Chainlink, Symbiotic, EigenLayer, and Karak.

Blockport Acquisition and Two-Validator Structure

Pier Two runs two Solana validators following an acquisition in October 2025. The original runs under the Pier Two name; the second, formerly operated by Blockport, was rebranded as Pier Two Infrastructure after Pier Two acquired Blockport on October 13, 2025. Blockport was a long-standing Solana validator built by co-founders Adrian Ciaffoncini and Nik Herrmann, who had built credibility in the validator community over several years. Both joined Pier Two after the acquisition to lead Solana operations, with Pier Two CEO Patrick McNab stating at the time that combining their "deep Solana expertise with Pier Two's scale and resources" would deliver stronger client outcomes. The Pier Two Infrastructure validator runs separately from the original Pier Two validator, effectively doubling the company's Solana validator footprint.

Bitmine Acquisition and MAVAN

In March 2026, Bitmine Immersion Technologies (NYSE: BMNR) completed the acquisition of Pier Two Holdings Pty Ltd, integrating it into MAVAN, Bitmine's institutional staking platform. MAVAN stands for Made in America Validator Network, though the inclusion of Pier Two, an Australian company, reflects the brand's aspiration rather than its geography. The financial terms included $10.5 million in Bitmine common stock at closing, $14 million in deferred consideration, and up to approximately $11.8 million in stock-based earnouts. Bitmine positioned the acquisition as central to its strategy of becoming the largest institutional staking provider globally, with Ethereum staking generating $45.7 million of Bitmine's $46.5 million in total revenue for the quarter ended May 31, 2026. Pier Two's day-to-day client operations remained unchanged under the new ownership, and the Pier Two brand continues in use.

Broader Product Suite

Pier Two's product range extends beyond Solana staking. Lantern is a light client that brings Ethereum network accessibility to lower-resource devices. Submarine is a product for accelerated ETH withdrawals via validator consolidation, reducing the time clients wait to exit staking positions on Ethereum. The Control Centre dashboard and API are shared infrastructure across all supported networks.

The company's institutional client list includes BitGo, BTC Markets, Zerocap, DACM, and JellyC, as well as validator and protocol clients EigenLayer and Chainlink. This mix of asset managers, exchanges, and protocols reflects Pier Two's position in the staking supply chain: upstream infrastructure that larger custodians and DeFi protocols route client assets through rather than a retail-facing consumer product.

On Solana specifically, the acquisition of Blockport and the subsequent double-validator structure mark a deliberate effort to establish deeper network presence. The Fireblocks integration, arriving six months before the Blockport deal, was the first move to expand Solana coverage within institutional custody pipelines. Together, they position Pier Two as one of the larger institutional access points for SOL staking, particularly for entities that already hold assets through Fireblocks, BitGo, or Zodia.