Ether Machine has raised $654 million in a private ether financing round, with 150,000 ETH contributed by longtime Ethereum supporter Jeffrey Berns.
The investment expands the firm’s treasury and places Berns on its board of directors as the company prepares to list publicly, according to Reuters.
The listing will take place through a merger with Dynamix Corporation, a special purpose acquisition company (SPAC), with completion targeted for the fourth quarter of 2025. Shares are expected to trade on Nasdaq under the ticker ETHM, and filings suggest the deal could unlock more than $1.6 billion in additional funding.
Following the announcement, Ether Machine reported holding 495,362 ETH, valued at roughly $2.16 billion, while reserving $367.1 million for future acquisitions. Unlike traditional funds that passively store digital assets, the company intends to pursue an active strategy, deploying capital through staking, restaking, and carefully selected decentralized finance (DeFi) protocols.
This approach reflects a broader shift in institutional exposure to Ethereum, which accelerated after U.S. regulators approved spot ether exchange-traded funds (ETFs) in 2024. While such strategies may generate higher yields than simple holding, they may also introduce risks, including limited liquidity, validator exit queues, and potential vulnerabilities within DeFi markets.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
Get the news in your inbox. Explore Blockworks newsletters:
Source: https://blockworks.co/news/ether-machine-secures-654m
![[Rappler Investigates] When health is wealth in a poor country](https://www.rappler.com/tachyon/2026/04/safer-metro-manila-dilg-remulla.png?resize=75%2C75&crop=285px%2C0px%2C802px%2C802px)
