Jeffrey Berns, founder of Blockchains, has committed 150,000 ether (ETH) — roughly $654 million — to The Ether Machine, a crypto investment vehicle preparing to go public via a merger with Dynamix Corporation later this year.
The contribution raises The Ether Machine’s total ETH holdings or pledges to 495,362 ETH (about $2.16 billion). The company also said it has up to $367.1 million reserved for additional purchases, contingent on Dynamix shareholders not redeeming before the merger closes.
Why this matters: The Ether Machine joins a wave of public firms building ETH treasuries as a way to offer investors direct exposure to ether on regulated markets. The firm’s co-founder and chairman, Andrew Keys, previously anchored the vehicle with 169,984 ETH (about $741 million), and management expects a third fundraising round of at least $500 million led by Citibank.
Besides boosting the firm’s balance sheet, Berns is expected to join The Ether Machine’s board once the transaction finalizes. Industry trackers show that ETH treasury companies, including larger players such as BitMine and SharpLink Gaming, have already amassed a material share of circulating supply — a trend that could influence liquidity and market dynamics.
Risks and context: While concentrated treasury purchases can support demand for ether, they also raise concentration and liquidity risks. Planned purchases are subject to deal conditions and shareholder redemptions; market volatility could significantly affect the USD value of holdings.
Source: Reuters. Read the original coverage for full details.
