- The Ether Machine purchased 15,000 ETH at $3,809.97 each, raising total holdings to 334,757 ETH.
- With $407M remaining, the firm plans further ETH buys as part of a long term institutional treasury strategy.
- Ether Machine aims to go public via Nasdaq under “ETHM” and will focus on staking and DeFi for institutional yield.
The Ether Machine has purchased 15,000 ETH worth $56.9 million, a key step in its treasury strategy. The acquisition, executed by The Ether Reserve LLC, was timed to coincide with Ethereum’s 10-year anniversary and brings total ETH holdings to 334,757.
According to the company, the purchase was made at an average price of $3,809.97 using funds from a previously disclosed $97 million private placement.
Ether Machine Prepares for More ETH Buys
The Ether Reserve LLC, a subsidiary of The Ether Machine, plans additional ETH purchases in the coming days using remaining cash proceeds. These upcoming acquisitions will also be announced separately, according to the company.
Up to $407 million remains available for deployment in ether purchases, as part of what it described as a long term institutional strategy. This is the beginning of treasury deployment for The Ether Machine, a firm supported by Pantera Capital, Kraken, and other institutional investors.
With 334,757 ETH already secured, the firm expects its holdings to exceed 400,000 ETH following future rounds. This move shows the company’s broader initiative to establish itself as an ether focused entity through public markets.
The Ether Machine plans to go public via a merger with Dynamix Corporation. The Nasdaq listing, under the ticker “ETHM,” targets a raise of over $1.6 billion.
Firm Eyes Institutional Yield from Staking
Funds raised from the public listing will support various Ethereum based financial strategies rather than simple asset holding. These include staking, restaking, and decentralized finance (DeFi) activities. According to the company, the goal is to build institutional-grade yield generation rather than passive exposure to ETH.
While the firm expands its ether accumulation, it has also taken steps to support Ethereum’s development. Alongside the treasury announcement, co-founder Andrew Keys donated $100,000 to the Protocol Guild.
Donation to Protocol Guild Celebrates Ethereum’s Developer Base
The donation went to the Protocol Guild, which funds long term Ethereum contributors. This initiative supports over 150 developers, researchers, and maintainers responsible for Ethereum’s base layer.
Ethereum would not exist without the tireless work of its core developers
Said Keys. He described the donation as “a token of thanks to the stewards of the protocol.”
With major ETH holdings already secured, additional purchases planned, and a public listing in motion, The Ether Machine continues deploying resources around Ethereum’s ecosystem through both financial and developmental commitments.
