The Ether Machine purchased 15,000 ETH, worth around $56.9 million

The Ether generation company, The Ether Machine, announced on Wednesday the purchase of nearly 15,000 Ethereum at $3,8009.97 each through its subsidiary The Ether Reserve LLC. The purchase, worth roughly $56.9 million, will be part of the company’s long-term accumulation strategy.

The Ether Reserve LLC made the purchase, bringing its total ETH bought and committed to around 334,757. The firm also revealed that it has nearly $407 million remaining for additional ETH purchases.

Ether Machine shifts focus to treasury deployment

The Ether Reserve has purchased nearly 15,000 ETH today as part of our long-term accumulation strategy. This brings total ETH purchased and committed to 334,757 with up to $407,000,000 USD remaining for additional ETH purchases.

"We couldn't imagine a better way to commemorate…

— The Ether Machine (@TheEtherMachine) July 30, 2025

The Ether Machine mentioned that the initiative was timed to coincide with Ethereum’s 10th anniversary. The company plans to continue with ETH purchases as part of its treasury deployment strategy.

The crypto firm argued that its treasury deployment of ETH depicts its belief that Ethereum is the most important asset of the decentralized internet. The Ether Machine added that the purchase reflects its mission to build a long-term, institutional-grade ETH treasury.

“We couldn’t imagine a better way to commemorate Ethereum’s 10th birthday than by deepening our commitment to ether. Our mandate is to accumulate, compound, and support ETH for the long term – not just as a financial asset, but as the backbone of a new internet economy.”

–Andrew Keys, Chairman and Co-Founder of The Ether Machine.

The Ether Machine revealed that the Ethereum-focused public vehicle leveraged the $97 million in cash proceeds from its previously announced private placement to buy the digital assets. The company will also use the remaining proceeds to buy additional ETH in the coming days.

The firm’s chair also made a personal donation worth $100,000 to a community-led funding initiative called the Protocol Guild. According to Keys, he attributed the donation in appreciation to the network’s contributors and Ethereum’s achievements over the past decade.

The Ether Machine’s chair acknowledged that the project focuses on open-source sustainability in Web3. The Protocol Guild also supports Ethereum’s core protocol contributors with a commitment of millions of dollars to researchers, developers, and maintainers of the ETH network.

Ether Machine plans to list on Nasdaq

The crypto treasury company also announced plans to debut trading on the Nasdaq last week by merging with blank check company Dynamix Corporation. The crypto firm will trade under the ticker ETHM.

Keys said The Ether Machine will commit approximately $645 million (169,984 ETH) in an anchor investment, with an additional $800 million in committed capital. The firm targets over $1.5 billion in gross proceeds to build the largest public Ether generation company. The firm will finalize the deal in Q4 of 2025.

The Ether Machine aims to help institutional investors access Ethereum, earn ETH-denominated yield, and participate directly in the network. The firm wants to focus on yield generation through staking, restaking, and decentralized finance strategies, rather than just buying and holding ETH. 

The crypto company said it focused on Ether because it’s the backbone of the digital economy, noting that it’s the first firm purpose-built to own ETH, manage ETH, and compound ETH yield. The digital asset settles over $14 trillion yearly and is responsible for the majority of DeFi activity across the network.

Keys argued that investors would get exposure to the coin’s price by purchasing ether from a crypto exchange or buying shares of an ether ETF. He added that investors won’t have access to the dividend of the ETF. He explained that the current ETFs don’t generate yield because they don’t enable staking, but The Ether Machine can enable staking with other additional risk management initiatives.

Keys believes that staking makes Ether a more productive asset than Bitcoin. BlackRock also plans to include staking of its ETHA Ether ETF.

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