The Ether Machine, a crypto investment vehicle preparing to go public through a merger with Dynamix Corporation, confirmed on Tuesday that 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 (based on an ETH price of ~$4,360), according to the press release.
The firm, which is gearing up to go public via a merger with Dynamix Corporation, confirmed the news Tuesday, noting Berns’ contribution adds to a growing list of high-profile backers. It also has up to $367.1 million reserved for further purchases, assuming Dynamix shareholders do not redeem their shares before the merger closes.
Berns, a longtime Ethereum advocate known for his work in digital identity and infrastructure, is also expected to join the company’s board post-merger. His move follows an earlier anchor investment from Andrew Keys, co-founder and chairman of The Ether Machine, who previously committed 169,984 ETH, roughly $741 million at the time.
“This isn’t just about holding ETH. It’s about reshaping how digital assets are governed, stored, and scaled,” Keys told Reuters.
A third fundraising round of at least $500 million is on the table, with Citibank leading the charge. If things stay on track, The Ether Machine won’t just go public, it’ll bulldoze its way in as one of the biggest ETH-native treasuries the market’s ever seen.
Additionally, the company has up to $367.1 million in reserve for further ETH acquisitions, pending shareholder redemption outcomes in the Dynamix merger.
With over $2 billion in ETH and a public debut looming, The Ether Machine isn’t just stacking coins, it’s making a power play for Ethereum dominance at institutional scale.
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