The Ether Machine, an Crypto infrastructure company preparing to become public via a merger with Spac Spagry Dynamix, said it had run its first major ether purchase (ETH), acquiring nearly $ 15,000 for $ 56.9 million.
The transaction, at an average price of $ 3,809.97, marks the start of the company’s treasure deployment strategy, which includes plans to accumulate more than 334,000 ETH. The Ether machine still has $ 407 million for ETH’s purchases, bringing its total exposure committed and acquired in the second largest cryptocurrency at around $ 463 million.
The moment of the announcement coincides with the 10th anniversary of the launch of Ethereum – a symbolic alignment with the main mission of the project to build an ETH infrastructure of institutional quality.
The purchase was executed via the LLC reserve ether, a vehicle partly funded by a private investment of $ 97 million. The company indicated that other ether acquisitions of this pool would be disclosed in subsequent updates.
As part of the launch, Andrew Keys, co -founder and president of The Ether Machine, also confirmed a personal donation of $ 100,000 to the GUILDE Protocol – a community -run financing mechanism for long -term Ethereum developers and maintenance.
The Ether machine aims to establish one of the greatest treasury vouchers in the ETH in the chain of any entity listed on the stock market. Its model emphasizes the active generation of the elements by means of clearing, replenishment and challenge of challenge managed by professionals. It also plans to offer Ethereum infrastructure services to DAOs, companies and institutions looking for an exposure to the basic layer economy of the network.
The company is finalizing its commercial combination with Dynamix Corporation (DYNX), an acquisition company for special purposes listed on the NASDAQ. After the merger, the combined entity should list under the name of Ether Machine Inc., with its nigger to announce.
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