Ether Machine Obtains $654M in ETH from Ethereum Titan Prior to Wall Street Launch

Crypto investment firm The Ether Machine (ETHM) has obtained $654 million in new funding from Jeffrey Berns, a veteran supporter of Ethereum and the founder of Blockchains.

This agreement, revealed on Tuesday, represents one of the most significant investments in the company to date and bolsters its standing in anticipation of a planned debut on Wall Street later this year.

The Ether Machine Secures $2.16B in ETH Commitments With Berns’ Support

As reported by Reuters, Berns has contributed 150,000 Ether (ETH) to the firm through a private transaction, with the funds expected to be deposited into its wallet later this week.

Upon the completion of The Ether Machine’s upcoming merger with Dynamix Corporation and Ether Reserve LLC, Berns will also join the board of directors.

Good morning, Machinists. We just raised another 150,000 #ETH in August ($654M).
This is the largest follow-on investment of any crypto treasury company thus far, bringing our total committed capital up to >$2.5B

— The Ether Machine (@TheEtherMachine) September 2, 2025

This recent investment enhances The Ether Machine’s existing institutional support.

In earlier funding rounds, the firm raised over $800 million from a combination of institutional and strategic investors, including a significant commitment from co-founder and chairman Andrew Keys.

Keys’ initial investment of 169,984 ETH, currently valued at approximately $741 million, has been a foundational element of the company’s treasury.

The company was established through the merger of Ether Reserve LLC and the blank-check firm Dynamix Corporation. Initially, The Ether Machine aimed to raise over $1.5 billion, attracting interest from entities such as Blockchain.com, Kraken, and Pantera Capital.

Although the firm has since revised its fundraising approach, the latest capital influx provides it with a substantial reserve of Ethereum.

Overall, the company has secured commitments for 495,362 ETH, valued at around $2.16 billion, with about $367.1 million available for additional acquisitions, assuming no shareholder redemptions occur.

Ether Machine has bought 15,000 ETH as part of its long-term treasury strategy, coinciding with Ethereum’s 10th anniversary.#EtherMachine #Ethereum10Years #ETHTreasuryhttps://t.co/K9c8Ybp9p1

— Cryptonews.com (@cryptonews) July 31, 2025

Keys described Berns’ involvement as a pivotal moment for the initiative.

“Securing this level of capital from a single investor—especially from someone with Jeff’s expertise and leadership in Ethereum—is a transformative milestone as we prepare for our public debut,” he stated. “I look forward to collaborating with him to create a top-tier ether-producing machine.”

Berns, who has dedicated years to funding Ethereum-related projects and Web3 initiatives, shared a similar sentiment. “As a long-time advocate for Ethereum’s potential to revolutionize our lives and work, I am eager to partner with Andrew and The Ether Machine team on this journey,” he remarked.

He characterized the company’s vision as “the only institutional public vehicle focused solely on Ethereum” and commended its corporate structure as ideal for global growth.

ETHM Prepares for Nasdaq Listing With 345,400 ETH in Treasury

The Ether Machine anticipates listing on the Nasdaq under the ticker ETHM in the fourth quarter of 2025, pending shareholder approval and closing conditions.

The public launch will solidify its position as a novel type of institutional entity dedicated exclusively to Ethereum.

The Ether Machine is a purpose-built, singularly focused Ether generation machine, and now our @NasdaqExchange ticker reflects that.
Welcome to the era of $ETHM

— The Ether Machine (@TheEtherMachine) August 28, 2025

Alongside its financing efforts, The Ether Machine has been consistently expanding its treasury. The firm recently acquired 15,000 ETH, valued at approximately $56.9 million at an average price of $3,809.97, as part of its long-term accumulation strategy.

This acquisition coincided with the celebrations for Ethereum’s 10th anniversary, which featured a global livestream with Ethereum co-founder Vitalik Buterin and other early contributors.

With these latest purchases, The Ether Machine’s holdings now exceed 345,400 ETH, surpassing the 231,600 ETH held by the Ethereum Foundation.

The firm has established itself as the third-largest public ETH treasury and expects to possess as much as 400,000 ETH (valued at $1.53 billion) by the time of its Nasdaq listing.

Keys described the mission as long-term and expansive. “We are just getting started. Our mandate is to accumulate, compound, and support ETH for the long term, not merely as a financial asset, but as the foundation of a new internet economy,” he stated.

Ethereum Reserves Concentrate as Whales Accumulate Amid Market Uncertainty

Ethereum’s supply is becoming increasingly concentrated among institutions, ETFs, and whales, according to recent data from StrategicETHReserve.

SER entities, which include corporations, exchanges, and ecosystem participants, collectively hold 4.44 million ETH valued at approximately $19.1 billion, representing 3.67% of the total supply.

The largest holder, Bitmine Immersion Tech, possesses 1.8 million ETH ($7.7B), accounting for 40.5% of SER reserves.

SharpLink Gaming follows with 797,700 ETH ($3.4B), while The Ether Machine and the Ethereum Foundation hold 345,400 ETH ($1.5B) and 231,600 ETH ($996M), respectively.

@SharpLinkGaming acquires 56,533 ETH at $4,462 avg, lifting holdings to 797,704 ETH (~$3.7B) $360.9M raised.https://t.co/wb497Nd4Ju

— Cryptonews.com (@cryptonews) August 26, 2025

ETF reserves are even more dominant, holding 6.74 million ETH ($29B), which is equivalent to 5.57% of the supply. Together, ETFs and SER entities control 11.18 million ETH, about 9.24% of Ethereum’s circulating supply.

However, ETFs have reported daily net outflows of 36,500 ETH ($157M), suggesting investor redemptions or profit-taking.

Whale activity adds another dimension of concentration. Blockchain tracker Lookonchain indicates that wallet 0x4ED0 has acquired 18,447 ETH ($81.5M) since mid-August, along with 1,357 WBTC ($160M), which were later collateralized on Aave for $114.2M USDT loans.

Another whale, 0xFf15, exchanged 425 BTC ($46.5M) for 10,567 ETH. Since August 20, one whale has transferred 35,991 BTC ($4.04B) into 886,371 ETH ($4.07B) at a 0.0406 exchange rate while still retaining nearly $5.4B in Bitcoin.

Since Aug 20, the Bitcoin OG has sold 35,991 $BTC($4.04B) and bought 886,371 $ETH($4.07B) at a 0.0406 rate on #Hyperliquid.
He still holds 49,634 $BTC($5.43B) in 4 wallets. pic.twitter.com/ns7T1zMtAO

— Lookonchain (@lookonchain) September 1, 2025

Ethereum’s network activity supports these trends. August recorded $320B in transaction volume, $135B in DEX trades, and $240B in DeFi TVL, the highest levels since 2021.

Ethereum co-founder Joseph Lubin anticipates ETH could experience a 100x increase, aligning with Fundstrat’s Tom Lee in designating Ethereum as Wall Street’s favored asset over Bitcoin.

Nevertheless, with ETH struggling to maintain the $4,000 mark, analysts caution that ongoing ETF outflows or liquidity shocks could challenge the market’s stability in September.

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