Crypto Company The Ether Machine obtained $ 654 million in a round of private financing, collecting 150,000 ether of the outstanding defender of Ethereum Jeffrey Berns.
The funds will be transferred to the company’s wallet at the end of this week, according to a Reuters Tuesday report. Berns, known for its first investments in Ethereum infrastructure and web3 initiatives, will join the Board of Directors.
The increase is part of the company’s broader strategy to build a substantial ether (eth) treasure before its anticipated Nasdaq debut at the end of this year.
The Ether machine formed through a fusion between the Ether Reserve and the Dynamix Corporation Blank Verification firm. While the initial objective was to raise more than $ 1.5 billion of investors, including blockchain.com, Kraken and Panther Capital, the company has adjusted its strategy.
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Ether Machine to make public with 495,000 eth
Now the Ether machine is expected to make public while maintaining more than 495,000 ETH, valued at around $ 2.16 billion, and additional $ 367 million for future ETH’s acquisitions, according to Reuters.
According to Strategicthreshreve data, the ETHher machine is currently the third largest corporate head of ETH with more than 345,400 coins, exceeding 231,600 ETH of the Ethereum Foundation.
Treasury companies such as Ether Machine often use convertible debt and preferred capital to raise capital while preserving their net asset value per action. According to the co -founder and President Andrew Keys, the company’s performance generation strategy is expected to exceed the traditional funds quoted in exchange (ETF).
“Between debt issuance and performance mechanics, we believe we can maintain a market premium on our net asset value indefinitely,” Keys told Reuters.
Ether Machine is also launching a third capital increase led by Citibank. Keys said the new round points to at least $ 500 million and will begin on Wednesday.
Related: Ether breaks under the ‘Tom Lee’ trend line: Is it 10% incoming?
$ 11 billion bitcoin whale turns in ether
A mysterious Bitcoin whale that is worth more than $ 11 billion has constantly turned funds in ether. The investor recently sold $ 215 million in Bitcoin to acquire $ 216 million in spot ether through hyperlichid, raising its total holdings ETH to 886,371 ETH, now valued at more than $ 4 billion.
https://www.youtube.com/watch?v=20ZFEDQDKL8
The whale began to turn funds on August 21, exchanging $ 2.59 billion in BTC for a spot position of $ 2.2 billion and $ 577 million in ETH Perpetual Longs. After closing part of the leverage position with $ 33 million in earnings, the investor resumed the purchase of ether.
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