The Ether Machine, a crypto infrastructure firm preparing to go public via a merger with SPAC sponsor Dynamix, said it executed its first major ether (ETH) purchase, acquiring nearly 15,000 ETH for $56.9 million.
The transaction, at an average price of $3,809.97, marks the start of the company’s treasury deployment strategy, which includes plans to accumulate over 334,000 ETH, it said. The Ether Machine has some $407 million remaining for ETH purchases, bringing its total committed and acquired exposure to the second-largest cryptocurrency to roughly $463 million.
The timing of the announcement coincides with the 10th anniversary of Ethereum’s launch — a symbolic alignment with the project’s core mission to build institutional-grade, yield-generating ETH infrastructure.
The purchase was executed through The Ether Reserve LLC, a vehicle funded in part by a $97 million private placement. The company indicated that further ether acquisitions from that pool would be disclosed in su
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