Due to the recent frenzy of expansion and coin buying among various listed companies in the market, the two common financing methods, PIPE (Private Investment in Public Equity) and ATM (At-the-Market Offering), have been widely used in crypto concept stocks or crypto asset reserve companies in a short period of time. These two financing forms have a direct and significant impact on outstanding shares and shareholder value. The data platform efficiency of the traditional stock market is relatively slow, taking several days to update the new shares outstanding and market capitalization. At present, there is no complete and accurate real-time data.

To help readers keep up with the market, BlockBeats will continue to track the newly issued shares information in the financing of various hot coin-stock concept companies, manually calculate the market capitalization and crypto asset holdings of each company, and provide a more accurate reference for the basic mNAV value.

Today's Coin-Stock Company Event Update

Ethermachine

July 30, 2025—To celebrate the tenth anniversary of Ethereum's birth, the institutional-grade Ethereum reserve platform Ethermachine announced the purchase of nearly 15,000 ETH at a unit price of $3,809, totaling approximately $56 million. This additional purchase brought its Ethereum holdings to a total of 334,757 ETH, making it the third-largest holder of Ethereum after "MicroStrategy" and still holding approximately $400 million in reserve funds for further ETH purchases.

Ethermachine is currently advancing its listing on Nasdaq through a SPAC merger plan with Dynamix Corporation (NASDAQ code: DYNX). The transaction has been approved by the board of directors and is expected to be completed in the fourth quarter of 2025. Upon listing, the company will officially trade under the stock symbol ETHM, becoming the world's first Nasdaq-listed company with Ethereum reserves as its core asset.

Andrew Keys, co-founder and chairman of Ethermachine, stated, "Adding ETH to our holdings on the tenth anniversary of Ethereum is a demonstration of our long-term confidence in Ethereum as the underlying asset of the global decentralized economy. Our goal is to enable more investors to directly benefit from the opportunities for ETH staking and re-staking through institutional-grade infrastructure."

Andrew Keys is an early advocate of the Ethereum ecosystem, having served as ConsenSys's Global Business Development Lead and as a co-founder of the Enterprise Ethereum Alliance (EEA), actively promoting Ethereum adoption in the financial, corporate, and government sectors. He is also a managing partner at the digital asset investment firm DARMA Capital, focusing on strategic allocations of Ethereum-related assets.

Ethermachine plans to further expand its ETH reserves and launch institutional-focused staking, restaking, and DeFi yield services after listing, aiming to build an Ethereum asset reserve + yield platform.

Coin Shares Company Market Cap and Premium Rate

The above data is accurate as of July 31

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