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4w ago

The Ether Machine Secures 15,000 ETH in Preparation for Nasdaq SPAC Listing

The move underscores the growing trend of corporate ETH treasuries seeking direct staking exposure that spot ETFs cannot provide.

The ether machine kicks off $463m eth treasury strategy with $57m purchase
Photo: Shubham Dhage
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Ether machine adds 15,000 eth to treasury to become 3rd largest eth holder

Overview

  • The Ether Machine bought 15,000 ETH at an average price of $3,809 per token on Ethereum’s 10-year anniversary.
  • This inaugural transaction increases its on-chain treasury to 334,757 ETH and leaves $407 million available for further acquisitions.
  • A merger with SPAC sponsor Dynamix Corporation is nearing completion to list the company on Nasdaq under the ticker ETHM and raise over $1.6 billion.
  • The firm will deploy its ETH reserves into staking, restaking and decentralized finance protocols to generate ETH-denominated returns.
  • Chairman Andrew Keys contributed $100,000 to the Protocol Guild to support long-term Ethereum core developers.