The Ether Machine has overtaken the Ethereum Foundation in ETH holdings with a $56.9 million purchase, becoming the third-largest publicly listed holder of Ethereum.
According to a recent press statement, The Ether Machine disclosed that it acquired around 15,000 ETH at an average price of $3,810 per token. The $56.9 million acquisition raises its total ETH holdings and commitments to 334,757 ETH.
The Ether Machine Surpasses the Ethereum Foundation
Notably, this holding now puts it ahead of the Ethereum Foundation, which holds 234,600 ETH valued at approximately $905.9 million. Moreover, the Ether Machine now ranks as the third-largest publicly listed holder of ETH.
Bitmine Immersion Technologies leads the list with 625,000 ETH, currently valued at approximately $2.41 billion. SharpLink Gaming, now in second place, holds 449,276 ETH worth an estimated $1.73 billion, following today’s acquisition of an additional 11,259 ETH at $3,828 per token, for a total of $43.09 million in USDC.
The timing of The Ether Machine’s purchase coincides with Ethereum’s 10th anniversary, which the company strategically selected to initiate its long-term treasury deployment.
It sees this move as the first step toward building a long-term ETH treasury. Specifically, the company views Ethereum not just as a digital asset but as a foundational layer for the future of the internet.
Chairman and Co-Founder Andrew Keys underscored that the company’s mission is to steadily grow and support its ETH holdings as a core institutional strategy.
$407 Million Still on the Table to Buy Ethereum
Notably, The Ether Machine funded this latest ETH acquisition using $97 million raised through a recent private placement. Meanwhile, it has over $407 million left to deploy as part of its long-term treasury strategy.
In the coming days, the company will begin making additional ETH purchases using a portion of the remaining capital. Each transaction will be announced individually as the company gradually deepens its holdings.
Backing the Builders: $100K to Protocol Guild
Alongside the treasury announcement, the company revealed that Andrew Keys personally donated $100,000 to the Protocol Guild. This initiative provides financial support to Ethereum’s core developers.
The Guild plays a vital role in sustaining Ethereum’s foundational development. It has already distributed millions of dollars to over 150 core researchers, engineers, and maintainers.
The Ether Machine described the donation as a tribute to the tireless efforts of Ethereum’s core development community. It also recognized their pivotal role in building and sustaining the network over the past decade.
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