The Crypto Company The Ether Machine has gained $ 654 million in a private financing round, collecting 150,000 ether from Ethereum’s prominent advocate Jeffrey Berns.
Funds will be transferred to the company’s purse later this week, According to In a Tuesday’s report of Reuters. The Berns, known for its early investment in Ethereum initiatives and web3 initiatives, will join the board of directors.
Increase is part of the company’s greater approach to produce a large ether (Eth) Treasury leading the expected NASDAQ debut later this year.
The ether machine is formed by an integration between the ether reserve and blank-check firm Dynamix Corporation. While the initial goal is to Raise more than $ 1.5 billion from investorsIncluding blockchain.com, Kraken and Pantera Capital, the firm has since adjusted its approach.
Related: Who owns the most ether in 2025? The ETH RICH list, expressed
Ether machine to go public with 495,000 et
The Ether Machine is expected to go public while holding more than 495,000 ETHs, worth about $ 2.16 billion, and an additional $ 367 million marks for future ETH acquisition, per Reuters.
According to strategicethreserve DataThe Ether Machine is currently the third-largest ETH corporation holder with more than 345,400 coins, outdistancing the Ethereum Foundation’s 231,600 ETH.
Treasury companies such as the Ether Machine often use a changing debt and preferred equity to raise capital while maintaining their net asset value per part. According to co-founder and chairman Andrew Keys, the company’s generation strategy is expected to be larger traditional funds exchanged by exchange (ETF).
“Between the debt release and yield mechanics, we believe we can maintain a market premium on our net asset value forever,” Keys told Reuters.
The Ether Machine also launches a third capital increased capital led by Citibank. Keys said the new rotation targets at least $ 500 million and starts on Wednesday.
Related: The Ether Break below ‘Tom Lee’ Trendline: Is a 10% going in?
$ 11 Billion Bitcoin whale rotates in Ether
A mysterious whale of Bitcoin worth more than $ 11 billion continues to rotate Ether funds. The investor recently sells $ 215 million worth of Bitcoin to Get $ 216 million in Ether spot by hyperliquid, which brings their total handling the ETH to 886,371 ETH, which now costs more than $ 4 billion.
https://www.youtube.com/watch?v=20zFedQDKL8
The whale first began rotating funds on August 21, exchanging $ 2.59 billion with BTC for a $ 2.2 billion ETH spot position and $ 577 million in Eth Perpetual Longs. After closing part of the leveraged position with $ 33 million income, the investor continued to buy the spot ether.
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