🔸The Ether Machine Begins Massive Purchase.
The Ether Machine, a crypto infrastructure company, has initiated its treasury strategy with a significant purchase of almost 15,000 ETH for $56.9 million. This move is the first in a series, with the company having committed or already acquired 334,757 ETH and holding $407 million in cash for future purchases.
The goal is to build one of the largest on-chain ETH treasuries for a public entity, focusing on generating yield through staking and DeFi. The initial purchase was made through The Ether Reserve LLC.
Additionally, President Andrew Keys donated $100,000 to the Protocol Guild to support Ethereum developers. The Ether Machine is preparing to list on Nasdaq following its merger with Dynamix Corporation.
