Ether Machine Raises $654M in ETH Ahead of Nasdaq Listing

Quick Highlights Ether Machine raises 150,000 ETH in private funding. Ethereum veteran Jeff Burns joins board of directors. $2B in crypto assets plus $367M in fiat planned. Ether Machine Secures $2 Billion in ETH Ahead of Nasdaq Listing Ether Machine has raised more than 150,000 ETH in private funding, Reuters reported, citing company officials. The investment is part of the company’s preparation for its upcoming Nasdaq listing. Jeffrey Burns, a longtime supporter of the Ethereum ecosystem, will join Ether Machine’s board of directors as part of the deal. The funding is expected to arrive in the company’s corporate wallet this week. A Strategic Move in Crypto Treasury Management The funding is part of Ether Machine’s treasury management strategy. Once listed on Nasdaq, the company expects to hold more than 495,000 ETH (worth over $2 billion) along with an additional $367 million in fiat currency to acquire more assets. Companies investing their treasuries in cryptocurrencies are increasingly using instruments like convertible debt or preferred stock to minimize capital dilution while maximizing the amount of crypto per share. Ambitious Plans for Growth and Financing ”Between debt issuance and network returns that exceed ETFs, we believe we can maintain a multiple relative to mNAV on an ongoing basis,” said Andrew Keys, co-founder and chairman of Ether Machine. The company is also continuing to raise funds. The third round of financing, aiming to raise $500 million, is expected to start on Wednesday, September 3, and will be led by Citibank. Ether Machine’s bold move reflects growing confidence in cryptocurrency as a treasury asset and positions the firm for an ambitious Nasdaq debut.