The Ether Machine is a cryptocurrency company that has raised $654 million through a private round of financing. Jeffrey Berns, an Ethereum enthusiast and prominent crypto-entrepreneur, donated 150,000 Ether.
Later this week the funds will be transferred into the wallet of your company. according Reuters reported on Tuesday. Berns will join the Board of Directors. Berns was known for early investments into Ethereum infrastructure, and Web3 initiatives.
This raise forms part of the company’s larger strategy to develop a significant Ether (ETHTreasury ahead of its anticipated Nasdaq debut This year will be the last for a while.
The Ether machine was created by combining the Ether Reserve with blank-check company Dynamix Corporation. The initial goal of the Ether Machine was to raise over $1.5 billion from investorsSince then, it has changed its approach to include Blockchain.com and Kraken, as well as Pantera Capital.
Related: Who owns the most Ether in 2025? The ETH rich list, revealed
Ether Machine goes public with 495,000 Ether
Reuters reports that the Ether Machine will go public with over 495,000 ETH valued at approximately $2.16 billion and $367,000,000 for future ETH purchases.
StrategicETHReserve dataThe Ether Machine has over 345.400 coins and is now the third biggest corporate holder with ETH. This surpasses the Ethereum Foundation which reports 231.600 ETH.
Ether Machine, a Treasury company like many others, uses convertible debt or preferred equity as a way to raise money while maintaining their share value. Andrew Keys is the co-founder of Ether Machine and its chairman. According to him, their onchain yield strategy will outperform. traditional exchange-traded funds (ETFs).
“Between debt issuance and yield mechanics, we believe we can maintain a market premium over our net asset value indefinitely,” Keys said Reuters.
Ether Machine has also launched a capital raise, led by Citibank. Keys stated that the round will begin on Wednesday and target at least $500,000,000.
Related: Ether breaks below ‘Tom Lee’ trendline: Is a 10% incoming?
The $11 billion Bitcoin Whale Rotates into Ether
An unknown Bitcoin whale with a value of more than $11 Billion has slowly shifted funds from Bitcoin to Ether. Recently, the investor sold $215,000,000 worth of Bitcoin. acquire $216 million in spot Ether Hyperliquid has brought their total ETH to 886.371 ETH. This is now worth over $4 billion.
The whale started rotating its funds for the first time on August 21, when it exchanged $2.59 Billion in BTC to a $2.2 Billion ETH Spot Position and $577 Million in ETH Perpetual Longs. The investor continued to buy spot Ether after closing out a part of leveraged position, which had a profit of $33,000,000.
Magazine: Bitcoin is ‘funny internet money’ during a crisis: Tezos co-founder
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
