Haciyev Reşit 
In a major move in the crypto world, Ether Machine, preparing for its Nasdaq listing, raised $654 million worth of Ethereum in a private funding round. The company is expanding its treasury strategy, marking a significant step ahead of its anticipated IPO later this year.
Ether’s Contribution to the Corporate Treasury
Ether Machine revealed that long-time Ethereum advocate Jeffrey Berns invested 150,000 ETH, which will be delivered to his wallet this week. Berns will also join the company’s board of directors.
Ether stands out among corporate treasury assets. Token holders can lock their Ether to support the Ethereum network and earn rewards, highlighting the strategic value of Ether Machine’s funding decisions.
Funding and Nasdaq Preparation
The funding round came less than two months after the merger between Ether Reserve and Dynamix Corporation. Initially, investors such as Blockchain.com, Kraken, and Pantera Capital were expected to contribute to a $1.6 billion fund.
Currently, the company holds 495,362 ETH, valued at $2.16 billion, for its Nasdaq listing and plans to raise an additional $367.1 million in Ether.
Third Round and mNAV Strategy
Co-founder and Chairman Andrew Keys told Reuters:
“Between debt issuance and our ability to generate layered returns exceeding ETFs, we believe we can sustain our net asset value (mNAV) indefinitely.”
Keys also stated that the Nasdaq listing is expected next quarter and that Citibank is leading a third funding round, targeting at least $500 million.
Ether Machine’s $654 million Ether raise underscores both institutional investor interest and the importance of Ethereum-based treasury strategies. These strategic steps ahead of the IPO position the company as a key player in the crypto market.
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