TL;DR
- The Ether Machine raised $654 million in private funding, receiving 150,000 ETH from Ethereum advocate Jeffrey Berns.
- The firm now holds over 495,000 ETH valued at approximately $2.16 billion, positioning itself as one of the largest corporate Ether holders.
- This funding supports the company’s upcoming Nasdaq listing and future ETH acquisitions, strengthening its treasury and staking-based yield strategy.
Ethereum-focused firm The Ether Machine has secured $654 million in private financing, receiving 150,000 ETH from early Ethereum supporter Jeffrey Berns, who will also join the company’s board. The funds are expected to be transferred this week, reinforcing the firm’s Ether treasury ahead of its Nasdaq debut. The Ether Machine now holds over 495,000 ETH, valued at $2.16 billion, with an additional $367 million earmarked for future ETH purchases. The firm’s strategy also includes carefully timed acquisitions and active staking to enhance returns.
The firm was formed through a merger between Ether Reserve and blank-check company Dynamix Corporation. While the original goal was to raise $1.5 billion from investors including Blockchain.com, Kraken, and Pantera Capital, the strategy has evolved to focus on strengthening the Ether treasury before the public listing. The combined teams are now working on optimizing yield generation and corporate governance structures.
Wall Street Meets Ethereum Strategy
The Ether Machine combines traditional finance tools with Ethereum yield strategies, using convertible debt and preferred stock to raise capital without diluting its net asset value per share. Co-founder and chairman Andrew Keys emphasized that the company’s on-chain yield strategy is designed to outperform traditional exchange-traded funds (ETFs), maintaining a premium over net asset value through staking and debt issuance.
With Ethereum yielding attractive returns, Ether Machine frames its Ether holdings as a productive treasury asset rather than a speculative investment. The firm is currently the third-largest corporate ETH holder, surpassing the Ethereum Foundation with over 345,400 coins.
Third Capital Raise Underway Ahead of Listing
Citibank is leading Ether Machine’s third funding round, targeting at least $500 million to further scale the firm’s ETH reserves. This pre-listing initiative supports liquidity for acquisitions and reinforces the company’s position as a key Ether-backed corporate entity. Backed by investors such as Blockchain.com, Kraken, and Pantera Capital, Ether Machine continues to merge Wall Street financial engineering with Ethereum-native strategies, bridging traditional markets with decentralized finance.
As the Nasdaq listing approaches in Q4 2025, Ether Machine emerges as a model for institutional-grade cryptocurrency treasury management, combining long-term digital asset exposure with sophisticated yield-generation strategies and forward-looking governance practices.
