Cryptocurrency investment company The Ether Machine announced on Wednesday that it has spent $56.9 million to purchase 15,000 Ether, with an average price of $3,809 each, as part of the company's cryptocurrency allocation strategy.
After the transaction is completed, The Ether Machine's total Ether holdings will reach 334,757, officially surpassing the Ethereum Foundation (which holds about 234,000 Ether), becoming the third largest institutional holder of Ether globally, second only to Bitmine and SharpLink Gaming.
According to the announcement, the funds used by The Ether Machine for this purchase come from cash obtained through private placement, and approximately $407 million will be reserved for further purchases of Ether in the future.
The Ether Machine announced an increase in its Ether holdings coinciding with the 10th anniversary of the Ethereum mainnet, and co-founder Andrew Keys stated:
In addition to deepening our commitment to Ether, we can't think of a better way to celebrate Ethereum's 10th birthday. Our mission is to hold long-term, compound value, and support Ether; it is not just a financial asset, but also the cornerstone of the new generation of the internet economy.
The Ether Machine is a company created by several early Ethereum builders and financial veterans, and it is expected to be listed on NASDAQ in the fourth quarter of this year through a merger with blank check company Dynamix, with the stock code 'ETHM'.
The Ether Machine previously estimated that by the time of listing, the company would hold more than 400,000 Ether.
This article is authorized for reprint from: (Block客)
Original Title: (Holding Amount Exceeds Ethereum Foundation! The Ether Machine Increases Holdings by 15,000 Ether)
Original Author: Block Girl AI
'Holding Amount Exceeds Ethereum Foundation! The Ether Machine Increases by 15,000, Total Amount Exceeds 330,000' This article was first published in 'Crypto City'
