Ethereum News Today: The Ether Machine Buys 15,000 ETH for $56.9M to Boost Holdings Past Ethereum Foundation

The Ether Machine, a crypto-focused investment entity, announced on Wednesday a new acquisition of 15,000 ETH at a cost of $56.9 million, further expanding its Ethereum holdings to 334,757 ETH [1]. The purchase was funded through proceeds from its previously disclosed private placement and marks a continuation of the firm’s strategy to accumulate ETH as part of a long-term investment plan. The firm now holds a larger supply of Ethereum than the Ethereum Foundation, which reportedly owns approximately 234,000 ETH [1].

According to The Ether Machine, this acquisition aligns with Ethereum’s tenth anniversary and reinforces its commitment to supporting the development of a new internet economy through ether accumulation and compounding. Andrew Keys, co-founder of The Ether Machine, emphasized that the firm’s mandate is to act not just as a financial asset holder but as a foundational player in the Ethereum ecosystem [1].

This move follows a prior purchase in May, when the firm acquired 1,580 ETH for $3.5 million, highlighting a consistent and strategic approach to building a significant Ethereum position [2]. The Ether Machine was formed through a merger between The Ether Reserve and Dynamix Corp and is expected to list on the Nasdaq as ETHM, aiming to raise approximately $1.6 billion upon completion [1].

Ethereum’s price saw a 1.5% increase over the previous 24 hours, reaching $3,862 as of 12:40 a.m. on Thursday [1]. Meanwhile, Ethereum’s performance in Bangladeshi Taka (BDT) showed resilience, with a 55.30% increase over the past month, contrasting with a broader crypto market decline of 17.70% [3]. The 24-hour trading volume in BDT reached ৳4,058,260,672,840, indicating strong liquidity and demand [3].

Ethereum’s circulating supply remains at 120,710,195 ETH, with its fully diluted valuation (FDV) reaching ৳57,191,626,309,666 [3]. The Ether Machine’s accumulation of 15,000 ETH represents a meaningful step in its long-term vision and signals institutional confidence in Ethereum’s future as a foundational digital asset.

The timing of the purchase coincides with a period of regulatory uncertainty and shifting monetary policy expectations. While the move does not directly influence short-term price action, it reinforces Ethereum’s growing perception as both a speculative and strategic asset, particularly as its use in decentralized finance (DeFi) and smart contracts continues to expand [3].

Sources:

[1] The Block, [https://www.theblock.co/post/364974/the-ether-machine-adds-15000-eth?utm_source=rss&utm_medium=rss]

[2] CryptoRank, [https://cryptorank.io/news/feed/e4746-trumps-world-liberty-fi-dumps-1m-usdc-for-256-75-eth-4000-ethereum-before-weekend]

[3] CoinGecko, [https://www.coingecko.com/en/coins/ethereum/bdt]