The Ether Machine, a cryptographic infrastructure firm that is preparing to make public through a merger with Spac Dynamix sponsor, said it executed its first important purchase of Ether (ETH), acquiring almost 15,000 ETH for $ 56.9 million.
The transaction, at an average price of $ 3,809.97, marks the start of the company’s treasure deployment strategy, which includes plans to accumulate more than 334,000 ETH. The Ether machine has about $ 407 million for ETH purchases, which carries its total exposure compromised and acquired to the second largest cryptocurrency to approximately $ 463 million.
The time of the announcement coincides with the tenth anniversary of the launch of Ethereum, a symbolic alignment with the main mission of the project to build an ETH infrastructure of institutional degree and performance generation.
The purchase was executed through Ether Reserve LLC, a vehicle financed in part for a private placement of $ 97 million. The company indicated that more ether acquisitions of that group would be revealed in subsequent updates.
As part of the launch, Andrew Keys, co -founder and president of the Ether Machine, also confirmed a personal donation of $ 100,000 to the protocol guild, a financing mechanism led by the community for long -term Ethereum developers and maintainers.
The Ether machine aims to establish one of the largest ETH chain treasures of any entity that is negotiated publicly. Its model emphasizes the generation of active performance through the participation of Defi of commitment, rest and professionally administered. He also hopes to offer Ethereum infrastructure services to damage, companies and institutions that seek exposure to the economy of the base layer of the network.
The company is in the process of finishing its business combination with Dynamix Corporation (DYNX), a special purpose acquisition company that appears in Nasdaq. After the merger, the combined entity is expected to be listed under the name of Ether Machine Inc., with its ticket still to announce.
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