The Ether Machine (ETHM) is a digital-asset treasury company that acquires and holds ether (ETH) as its core strategy. It is preparing to go public via a merger with Dynamix Corporation expected to close by the end of the year. Commitments to date total 495,362 ETH, currently valued at about $2.16 billion, positioning the firm among the largest corporate holders of the token. Its earliest anchor contribution was 169,984 ETH (approximately $741 million) from co-founder and chairman Andrew Keys. In the most recent transaction, Blockchains founder Jeffrey Berns pledged 150,000 ETH worth roughly $654 million and will join the board once the merger completes. The company also has as much as $367.1 million reserved for additional ETH purchases, subject to Dynamix shareholder redemptions. Looking ahead, management plans a third capital raise of at least $500 million with Citibank leading the effort, underscoring its intent to deepen its ETH holdings.

Total raised

$654M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2025