Ether Machine to Launch on Nasdaq with $1.5B Capital

The Ether Machine is set to list on Nasdaq with over $1.5 billion in fully committed capital and more than 400,000 Ether on its balance sheet. This merger announcement positions the company to potentially become the largest publicly traded entity focused solely on Ethereum. The funding includes a key investment of about $645 million, which translates to approximately 169,984 ETH, from co-founder Andrew Keys, who will also be the chairman. Additionally, more than $800 million comes from institutional and crypto-focused investors, including 1Roundtable/10T Holdings, Archetype, Blockchain.com, Cyber Fund, Electric Capital, Kraken, and Pantera Capital. Dynamix’s cash trust of $170 million could elevate gross proceeds to over $1.6 billion. David Merin, previously head of corporate development at Consensys, will become the CEO, with Jonathan Christodoro, an alumnus of Morgan Stanley, as vice chairman. The Ether Machine plans to go public through a business combination with Dynamix Corporation (DYNX), which initiated its IPO in late 2024. The company aims to provide ETH-denominated returns through staking, restaking, and decentralized finance strategies while offering institutions seamless exposure to Ethereum yields. The public offering is slated for the fourth quarter, pending shareholder approval, with the entity expected to trade under the ticker ETHM. If successful, this listing would surpass SharpLink Gaming’s treasury of 353,000 ETH and BitMine Immersion’s 300,657 ETH, making the Ether Machine the largest public ether holder at its launch. It reflects a growing trend of investors seeking Ethereum exposure through U.S. equities.