The post Ether Machine Now Owns More Eth Than the Ethereum Foundation appeared first on Coinpedia Fintech News
As Ethereum marks a decade of innovation, The Ether Machine is making noise, with a hefty $56.9 million ETH buy that signals both celebration and serious conviction. In a bold move timed with Ethereum’s 10th anniversary, The Ether Reserve LLC, a subsidiary of The Ether Machine, scooped up nearly 15,000 ETH at an average price of $3,809.97 per token.
Ether Machine plans $407M ETH strategy
This buy isn’t a one-off. It marks the beginning of a long-term treasury strategy that could see The Ether Machine pour up to $407 million more into ETH. With a total of 334,757 ETH already committed or acquired, the firm is doubling down on its belief that Ethereum is not just another asset, but the digital backbone of the future internet.
“We’re here to accumulate, compound, and support ETH long-term,” said Andrew Keys, Chairman and Co-Founder of The Ether Machine. He called the move a “celebration” of Ethereum’s past and a “signal” of commitment to its future.
The Ether Machine now owns more Ethereum than the Ethereum Foundation itself. It’s the third public company to do so, after Bitmine and SharpLink.
Keys Invests in ETH and Donates $100K to Ethereum Core Developers
But it doesn’t stop with asset accumulation. Alongside the ETH buy, Keys personally donated $100,000 to the Protocol Guild, a group supporting Ethereum’s core developers. This gesture adds heart to strategy, showcasing a company that’s not just buying in, but giving back.
The Protocol Guild has funneled millions to Ethereum’s long-term developers and maintainers, making it one of the most effective Web3 open-source funding models to date.
Ethereum’s 10th Anniversary Sparks Institutional Interest
With Ethereum’s 10th birthday serving as a symbolic checkpoint, this latest ETH acquisition positions The Ether Machine as a serious institutional-grade player in the ETH space. Whether you’re a crypto newcomer or a seasoned DeFi pro, this move is a loud reminder that big money is still betting big on Ethereum.
On Ethereum’s 10th birthday, Coinbase CEO Brian Armstrong recalled how visa issues prevented Vitalik Buterin from joining Coinbase in 2013. Instead, Buterin returned to Canada and created Ethereum, turning a missed hire into one of the most pivotal moments in crypto history.
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The purchase celebrates Ethereum’s 10th anniversary and kicks off a long-term treasury strategy, signaling strong institutional conviction in ETH’s future.
Andrew Keys, Chairman and Co-Founder, leads the strategy, calling it a commitment to ETH’s role as the “digital backbone of the future internet.”
The massive buy positions The Ether Machine as a major ETH holder, proving big money still backs Ethereum as it enters its second decade.
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