With 334,757 units, the Ethereum Treasury Company The Ether Machine now holds more ETH than the Ethereum Foundation. A look back at this meteoric rise.
The Ether Machine buys an additional 15,000 ETH
Last week, we reported on the agreement for a merger between Dynamix Corporation (DYNX) and the special purpose acquisition company (SPAC) The Ether Reserve. This merger gave rise to The Ether Machine, a project with the ambition of founding a large-scale Ethereum Treasury Company with a target of at least 400,000 ETH. On Thursday, on the occasion of Ethereum’s (ETH) 10th anniversary,
The Ether Machine announced the acquisition of an additional 15,000 ETH, bringing the total number of units in its reserve to 334,757.
We couldn’t imagine a better way to celebrate Ethereum’s 10th anniversary than by strengthening our commitment to Ether. This is just the beginning. Our mission is to accumulate, capitalize on, and support ETH over the long term, not only as a financial asset, but also as a pillar of a new Internet economy.
Beyond the staggering $1.3 billion that such ETH holdings represent, this reserve is also far from insignificant, as it exceeds the holdings of the Ethereum Foundation itself by 42.71%.
According to data from the website SRATEGICETHRESERVE.XYZ, The Ether Machine thus completes the podium behind Bitmine Immersion Tech and SharpLink Gaming:
It should be noted, however, that the above list does not include individual investors, as according to Arkham data, Vitalik Buterin alone holds at least 240,000 ETH.
In addition to The Ether Machine’s latest acquisitions, Andrew Keys has also made a personal donation of $100,000 to the Protocol Guild developer collective in gratitude for their involvement in the development of Ethereum.
For its part, ETH is trading at $3,860 at the time of writing, up 1.1% over the last 24 hours.
