Ether Machine raises $654 million in Ethereum private funding.

Ether Machine announced that it has completed a private financing round worth $654 million, with investment from long-time Ethereum supporter Jeffrey Berns, who will join the company's board of directors. The company was formed through a merger between Ether Reserve and Dynamix Corporation and is expected to list on the Nasdaq in the fourth quarter of this year, holding about 495,362 Ether and $3.671 billion in cash. Co-founder and chairman Andrew Keys revealed that the third round of financing, led by Citibank, will kick off this Wednesday with a minimum target of $500 million.