  In the absence of dissipation a non-rotating magnetic nanoparticle can be
stably levitated in a static magnetic field as a consequence of the spin origin
of its magnetization. Here we study the effects of dissipation on the stability
of the system, considering the interaction with the background gas and the
intrinsic Gilbert damping of magnetization dynamics. At large applied magnetic
fields we identify magnetization switching induced by Gilbert damping as the
key limiting factor for stable levitation. At low applied magnetic fields and
for small particle dimensions magnetization switching is prevented due to the
strong coupling of rotation and magnetization dynamics, and the stability is
mainly limited by the gas-induced dissipation. In the latter case, high vacuum
should be sufficient to extend stable levitation over experimentally relevant
timescales. Our results demonstrate the possibility to experimentally observe
the phenomenon of quantum spin stabilized magnetic levitation.
