Ether Machine Becomes Third-Largest Holder with $57M ETH Buy Ahead of Nasdaq IPO

• Acquiring 15,000 ETH for $56.9M, becoming the third-largest known holder.
• Preparing for Nasdaq IPO, targeting up to $100M and donating $100K to Ethereum development.

On July 30, 2025, Cointelegraph reported that The Ether Machine marked Ethereum’s 9th anniversary with a $56.9 million purchase of 15,000 ETH. This acquisition elevates the company’s total Ether holdings to 343,757 ETH, placing it just behind the Ethereum Foundation's 344,000 ETH.

Cointelegraph highlighted this move as a testament to growing institutional interest in Ethereum as a critical layer of digital finance infrastructure. The Ether Machine is now one of the largest institutional holders of Ether. This signals increasing corporate confidence in Ethereum’s potential.

The Ether Machine plans to list publicly on the Nasdaq under the ticker ETHM. Through its initial public offering (IPO), the company aims to raise up to $100 million. Despite its recent purchase, the firm holds over $407 million in reserve. It has earmarked these funds for additional Ether acquisitions as part of its broader growth strategy.

Andrew Keys, company chairman and co-founder, added to the anniversary celebration with a $100,000 personal donation to the Protocol Guild. The Guild, focused on supporting Ethereum core developers, underscores The Ether Machine’s commitment to bolstering the blockchain’s ecosystem.

Meanwhile, this development aligns with Ethereum’s own momentum in the cryptocurrency market. As of July 30, 2025, 10:18 UTC, Ethereum (ETH) is trading at $3,860.53. According to CoinMarketCap, this price reflects a 1.717% increase in its 24-hour price.