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Berns’ commitment brings company's ETH holdings to over $2.1 billion as it prepares to go public via a merger later this year.
Sep 2, 2025, 1:26 p.m.
The Ether Machine (ETHM), a crypto investment vehicle preparing to go public through a merger with Dynamix Corporation, said on Tuesday it has secured an additional 150,000 ether (ETH), worth about $654 million, from Jeffrey Berns, the founder of Blockchains.
The latest commitment brings the company’s total ETH owned or pledged to 495,362 ETH, valued at about $2.16 billion, the press release said.
The firm also has up to $367.1 million reserved for further purchases, assuming Dynamix shareholders don’t redeem their shares before the merger closes.
Berns, who has backed Ethereum as a platform for digital identity and internet infrastructure, is expected to join The Ether Machine’s board once the transaction finalizes later this year. His investment follows a prior anchor commitment of 169,984 ETH ($741 million) from The Ether Machine’s co-founder and chairman Andrew Keys.
The firm also plans to pursue a third fundraising round of at least $500 million with Citibank leading the effort, Keys said in an interview with Reuters.
The Ether Machine is part of a growing roster of public firms pursuing a strategy to acquire ETH, the second-largest cryptocurrency. ETH treasury companies, led by BitMine and SharpLink Gaming, has already bought up nearly 4% of the token's supply, a dashboard by strategicethreserve.xyz shows.
Read more: BitMine Immersion Boosts Ether Holdings to $8.1B, With $623M in Cash for More Purchases
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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