Lucía Peña
The Ether Machine announced on Tuesday that it secured an additional 150,000 ETH, valued at $654 million, for its Ethereum treasury during August. This acquisition solidifies the firm’s position as the third-largest Ethereum holder globally.
The investment comes from longtime Ethereum supporter Jeffrey Berns, who will also join The Ether Machine’s board of directors. The ETH is scheduled to be transferred to the company’s wallet later this week, according to Reuters.
“This is the largest follow-on investment in any crypto treasury company to date,” The Ether Machine stated on X, noting that total committed capital now exceeds $2.5 billion.
Co-founder and chairman Andrew Keys emphasized: “With Jeff Berns’ landmark commitment, one of the largest individual investments in a crypto treasury, we now hold nearly 500,000 ETH, providing unmatched market credibility and strength.”
Strategic Accumulation and Institutional Focus
This latest accumulation builds on prior purchases, including 10,605 ETH on August 4 and 15,000 ETH on Ethereum’s 10th anniversary. These moves reflect The Ether Machine’s dedication to establishing a long-term, yield-generating institutional treasury, achieved just two months after the merger of Ether Reserve and Dynamix Corporation.
Originally, the capital raise was projected to surpass $1.6 billion, with participation from Blockchain.com, Kraken, and Pantera Capital. The company’s current holdings are now 495,362 ETH, worth around $2.14 billion, with $367 million still earmarked for additional purchases before its planned Nasdaq listing next quarter.
ETH Reserve Rankings
With this treasury size, The Ether Machine ranks behind only Tom Lee’s BitMine (1.8 million ETH) and Joe Lubin’s SharpLink (837,000 ETH), according to SER data.
Third Capital Raising Round to Begin
The company announced that its third fundraising round will start on Wednesday, with Citibank leading the initiative. Keys confirmed that the round aims to raise at least $500 million, further bolstering the Ethereum treasury.
