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The Ether Machine, a planned public company following a pending business combination with Dynamix Corporation (Nasdaq: ETHM) and The Ether Reserve LLC, announced today that it has raised an additional 150,000 ETH (currently valued at approximately $654 million) of committed financing from Jeffrey Berns, Founder of Blockchains.
The additional capital is expected to further enable The Ether Machine to launch from a position of strength on day one as a public vehicle upon the closing of the business combination. The Ether Machine previously announced over $800 million of fully committed financing from institutional and strategic investors, as well as an anchor contribution currently valued at approximately $741 million (representing 169,984 ETH) by Co-Founder and Chairman Andrew Keys at inception. This additional investment brings the total ETH owned or committed to 495,362 (currently valued at ~$2.16B), with up to $367.1M dollars remaining to acquire additional ether, assuming no Dynamix Corporation public shareholders exercise their redemption rights and prior to the payment of transaction expenses.
“Securing this amount of capital from a single investor – particularly from someone with Jeff’s understanding and leadership in Ethereum – is a transformative milestone as we prepare for our public debut,” said Andrew Keys, Co-Founder and Chairman of The Ether Machine. “We are grateful for Jeff’s confidence in our strategy, and I look forward to partnering with him to build the best-in-class ether-producing machine.”
Jeffrey Berns has long championed Ethereum as the blockchain best positioned to provide the missing identity layer for the internet. Through his companies Blockchains, Genubank and Celsion, he is developing products and services in the identity and reputation domain.
“As a long-time believer in the potential of Ethereum to transform how we live and work, I am excited to join Andrew and The Ether Machine team on this journey,” said Jeffrey Berns. “Their strategy is projected to be the only institutional public vehicle which is purely Ethereum focused, run by world-class Ethereum subject matter experts, in the proper corporate and legal structure for global scale. I am confident in The Ether Machine’s ability to achieve its north star of dramatically increasing its ether concentration per share.”
Berns is also expected to serve as a director on the board of The Ether Machine upon closing of the transaction, which is anticipated in the fourth quarter of 2025, subject to shareholder approval and other customary closing conditions.