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 e
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