Ethereum News Today: The Ether Machine Buys 15K ETH for $56.9M Holdings Now 334K

The Ether Machine, a firm formed through the merger of The Ether Reserve and Nasdaq-listed Dynamix Corp., announced Wednesday that it has purchased 15,000 ETH for approximately $56.9 million, at an average price of $3,809 per Ether. This acquisition, timed to coincide with Ethereum’s 10-year anniversary, increases the firm’s total ETH holdings to 334,757, surpassing the Ethereum Foundation’s reported holdings of 234,000 ETH and positioning The Ether Machine as the third-largest corporate ETH holder, behind only Bitmine and SharpLink Gaming [1].

The Ether Machine has resumed its long-term accumulation strategy, with $407 million still reserved for additional purchases. According to Andrew Keys, chairman and co-founder of the firm, the purchase represents a deeper commitment to Ethereum: “We couldn’t imagine a better way to commemorate Ethereum's 10th birthday than by deepening our commitment to Ether,” Keys said. The firm is expected to go public under the ticker ETHM following the merger’s completion in Q4, with a targeted raise of $1.6 billion [1].

In addition to the ETH purchase, Keys donated $100,000 to the Protocol Guild, an initiative supporting Ethereum’s core developers. Ray Youssef, CEO of NoOnes, emphasized the growing institutional interest in Ethereum, stating that the platform is increasingly viewed as foundational infrastructure for digital finance. Youssef highlighted Ethereum’s role in tokenized assets, onchain payments, and institutional-grade custody, noting that much of programmable finance is built directly on the Ethereum network [1].

The surge in corporate ETH buying is not unique to The Ether Machine. According to a recent report from Standard Chartered, corporations have been accumulating Ether at twice the pace of Bitcoin. Since early June, crypto treasury firms have acquired 1% of Ethereum’s total supply, which has contributed to ETH’s recent performance outpacing Bitcoin. Standard Chartered noted that strong inflows into US spot Ether ETFs, alongside this accumulation, have supported Ether’s rally, potentially pushing it above its $4,000 year-end forecast. However, ETH remains over 20% below its historical high of $4,890 [1].

The continued accumulation of ETH by corporations reflects a broader trend of institutional adoption and confidence in Ethereum’s long-term value. As more firms commit to large-scale ETH purchases, the competitive landscape between Ethereum and other blockchain platforms could shift significantly. The Ether Machine’s strategy, in particular, suggests a sustained interest in Ethereum as a core asset, potentially influencing broader market dynamics and investor sentiment [1].

Source: [1] Cointelegraph - [The Ether Machine buys 15K ETH in $57M purchase, holdings top 334K](https://cointelegraph.com/news/ether-machine-buys-15k-eth-57m-purchase)