The Ether Machine has purchased nearly 15,000 ETH worth $56.9 million, reinforcing its long-term strategy to build a large institutional-grade ETH treasury. The announcement coincides with Ethereum’s 10th anniversary and includes a $100,000 donation to the Protocol Guild.
Ethereum Turns 10: The Ether Machine Marks Milestone with Major ETH Buy
The Ether Machine marked Ethereum’s 10th anniversary in style with a significant ETH acquisition. The company revealed that The Ether Reserve LLC purchased 14,930 ETH at an average price of $3,809, totaling $56.9 million.
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According to the announcement, this transaction continues the firm’s long-term accumulation strategy, which aims to position ETH as the cornerstone of its institutional-grade treasury. To date, 334,757 ETH have been purchased or committed, with an additional $407 million earmarked for future buys.
Andrew Keys, Chairman and Co-founder of the Ether Machine, spoke about the recent acquisition.
We are just getting started. Our mandate is to accumulate, compound, and support ETH for the long term, not just as a financial asset, but as the backbone of a new internet economy. We couldn’t imagine a better way to commemorate Ethereum’s 10th birthday than by deepening our commitment to ether.
The purchase was funded through $97 million in cash proceeds from a previously announced private placement, with more acquisitions expected in the coming days.
Beyond its treasury strategy, the Ether Machine also underscored its commitment to Ethereum’s development ecosystem with a $100,000 donation to the Protocol Guild, a community-driven initiative that supports core protocol developers maintaining Ethereum’s base layer.
Source: Bitcoin
