The Ether Machine, an Ethereum-focused firm, has secured $654 million in private financing, acquiring 150,000 Ether from Ethereum advocate Jeffrey Berns. This funding is part of the firm’s strategy to go public with over 495,000 ETH and aims to establish a significant treasury later this year. Berns, who has a history of investments in Ethereum infrastructure, will join the company’s board. The Ether Machine, formed from a merger between Ether Reserve and Dynamix Corporation, is now the third-largest corporate holder of ETH, boasting over 345,400 coins. The company’s co-founder, Andrew Keys, expressed confidence in their on-chain yield generation strategy, predicting it will surpass competitors. The firm is also planning a new capital raise of at least $500 million led by Citibank, which will commence shortly. The Ether Machine’s public listing is projected to further enhance its position in the market, with significant ETH acquisitions on the horizon.

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