TLDR
The Ether Machine now holds 334,757 ETH after a $56.9M purchase.
It overtakes the Ethereum Foundation’s reported 234,000 ETH balance.
The firm aims to raise $1.6B and go public as ETHM by end of Q4.
$407M in cash reserves remain for more ETH acquisitions.
The Ether Machine purchased 15,000 Ethereum (ETH) for $56.9 million, raising its total ETH holdings to 334,757. This acquisition positions it ahead of the Ethereum Foundation, which holds around 234,000 ETH.
The transaction, made at an average price of $3,809 per ETH, aligns with the 10-year anniversary of the Ethereum network. The Ether Machine confirmed this move as part of its long-term accumulation strategy and said more ETH purchases are planned.
Ethereum Holdings Surge to Over 334,000
The Ether Machine’s ETH balance sheet now exceeds 334,000 coins, making it the third-largest corporate ETH holder globally. The purchase was funded from cash raised during a prior private placement.
StrategicETHReserve data places The Ether Machine above the Ethereum Foundation in terms of ETH holdings. Only Bitmine and SharpLink Gaming have larger corporate reserves.
Andrew Keys, chairman and co-founder of The Ether Machine, commented, “We are just getting started.” He also called the purchase a way to mark Ethereum’s tenth anniversary.
The company still has around $407 million reserved for further acquisitions. The Ether Machine’s approach indicates continued confidence in ETH as a long-term asset.
Plans for Public Listing Under ETHM
The Ether Machine is currently undergoing a business combination with Nasdaq-listed Dynamix Corp. The transaction is expected to close in the fourth quarter of 2025. After the merger, the new entity plans to list on Nasdaq under the ticker symbol ETHM.
The firm is targeting a capital raise of $1.6 billion following its public listing. This makes it one of the largest crypto-native entities preparing to enter public markets this year.
The Ether Machine was created earlier in 2025 after combining The Ether Reserve and Dynamix Corp. It now operates with the mandate to accumulate and support ETH.
Corporate ETH Accumulation on the Rise
According to Standard Chartered, firms are acquiring Ether at double the pace of Bitcoin. Since June, institutional buyers have collected around 1% of the total ETH supply.
This trend is supported by increasing interest in staking, DeFi, and tokenized finance infrastructure, which largely exists on the Ethereum network. Ray Youssef, CEO of NoOnes, said Ethereum is now viewed as a foundation for the evolving digital finance space.
Corporate buying, alongside US spot Ether ETF inflows, is helping push ETH prices closer to the $4,000 level. As of Wednesday, ETH was trading at $3,863, still about 20% below its all-time high.
Standard Chartered predicts crypto treasury firms could eventually hold up to 10% of ETH’s total supply due to the network’s expanding utility.
Donation to Ethereum Development
In addition to the ETH purchase, Andrew Keys contributed $100,000 to the Protocol Guild. This initiative supports Ethereum core developers and has already distributed millions to contributors.
The donation aligns with The Ether Machine’s broader strategy of supporting Ethereum as both a financial and technical platform. The company stated its aim is to back the ecosystem over the long term.
As corporate interest in Ethereum rises, the continued funding of its developer community is seen as essential to maintaining network innovation and security.
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