The Ether Machine, an institutional-grade Ethereum treasury platform, reportedly purchased 15,000 ETH worth approximately $57 million to commemorate Ethereum's 10th anniversary. According to unverified Telegram sources, this acquisition would boost its holdings to 334,757 ETH—surpassing the Ethereum Foundation's estimated 234,000 ETH treasury—and solidify its position as the largest decentralized ETH treasury vehicle.
Despite claims of the purchase, no official confirmation has been provided by The Ether Machine or primary sources. Backed by Pantera Capital, Kraken, Blockchain.com, and Dragonfly, the firm has committed over $500 million to Ethereum exposure, with $407 million in remaining capital for future acquisitions. Co-founder Andrew Keys revealed plans for a vertically integrated staking, custody, and yield-generation platform to support Ethereum's ecosystem.
The company is advancing toward a Nasdaq listing via SPAC merger with Dynamix Corporation, expected to close in Q4 2025 under the ticker ETHM. The deal aims to raise $1.5 billion, potentially increasing holdings beyond 400,000 ETH. This aligns with growing corporate adoption trends, as firms like Bit Digital and GameSquare increasingly use ETH for yield generation via staking and DeFi protocols.