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The Ether Machine Raises $654M in ETH

Ahead of its Nasdaq debut, The Ether Machine inks a major deal with an ETH whale.
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Sep 2, 2025 • 1 min read

The Ether Machine raised another 150,000 ETH in August — worth $654 million — through a single investment from longtime Ethereum supporter Jeffrey Berns, the company announced Tuesday. The deal brings the firm's total committed capital to over $2.5 billion.

What’s the Scoop?

  • Third-Largest Holder: The Ether Machine now holds 495,362 ETH (~$2.14B), ranking behind BitMine and SharpLink in corporate ETH holdings.
  • Board Addition: Investor Jeffrey Berns, who contributed the full 150,000 ETH, will join The Ether Machine’s board of directors later this week.
  • Strategic Capital: The firm still has $367M in undeployed capital to acquire more ether ahead of its anticipated Nasdaq listing next quarter.
  • Rapid Accumulation: Formed just two months ago via a merger between Ether Reserve and blank-check firm Dynamix, the company has already logged three major ETH purchases.
  • More to Come: A third funding round led by Citibank will launch Wednesday, with a minimum target of $500 million.

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