The Ether Machine, a crypto-focused investment company, announced the purchase of 15,000 ETH for $56.9 million on Wednesday, marking a major step in its long-term accumulation plan. Bought at $3,809 per ETH using funds from a private placement, this latest acquisition brings its total Ethereum holdings to 334,757 ETH.
This puts the Ether Machine ahead of the Ethereum Foundation, which holds around 234,000 ETH, according to StrategicETHReserve. Only Tom Lee’s Bitmine and Joe Lubin’s SharpLink Gaming now hold more ETH among corporate entities.
The announcement comes on Ethereum’s 10th anniversary, underlining Ether Machine’s confidence in the blockchain’s future. The firm was formed through a merger between The Ether Reserve and Nasdaq-listed Dynamix Corp, expected to finalize in Q4 2025. Post-merger, it plans to go public on the Nasdaq under the ticker ETHM, targeting a $1.6 billion raise to further its crypto investment strategy.
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