Ether Machine has raised $654 million in a private ether financing round, with 150,000 ETH contributed by longtime Ethereum supporter Jeffrey Berns.

The investment expands the firm’s treasury and places Berns on its board of directors as the company prepares to list publicly, according to Reuters.

The listing will take place through a merger with Dynamix Corporation, a special purpose acquisition company (SPAC), with completion targeted for the fourth quarter of 2025. Shares are expected to trade on Nasdaq under the ticker ETHM, and filings suggest the deal could unlock more than $1.6 billion in additional funding.

Following the announcement, Ether Machine reported holding…

Read more on Blockworks