Ether Machine, a crypto infrastructure company that is preparing to be published through a merger with SPAC sponsor Dynamix, said it had made its first major ether (ETH) purchase and acquired around 15,000 ETH for $56.9 million.
The transaction marks the start of the company’s Treasury deployment strategy, including plans to accumulate more than 334,000 ETH at an average price of $3,809.97. The ether machine has around $407 million remaining for ETH purchases, bringing the total committed and acquired exposure to the second largest cryptocurrency to around $463 million.
The timing of the announcement coincides with the 10th anniversary of Ethereum’s launch. This is an iconic alignment with the project’s central mission to build an agency-grade yield generation ETH infrastructure.
This purchase was made through Ether Resirse LLC. This is a vehicle that was funded in part on private property of $97 million. The company has shown that further ether acquisitions from its pool will be disclosed in subsequent updates.
As part of the launch, Andrew Kies, co-founder and chairman of Ether Machine, also confirmed a private donation of $100,000 to the Protocol Guild.
Ether Machine aims to establish one of the largest ETH Treasury ministries on the chain of publicly available entities. The model highlights active yield generation through staking, retours and professionally managed debt participation. It also hopes to provide Ethereum infrastructure services to DAOs, businesses and institutions seeking exposure to the basic economics of their networks.
The company is finalizing the combination of its business with Dynamix Corporation (DYNX), a special purpose acquisition company listed on NASDAQ. Following the merger, the integrated entities were listed under the name Ether Machine Inc. and the ticker has not yet been announced.
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