Dynamix, a publicly listed blank-check company, is preparing to merge with another entity to form a new company called the Ether Machine. The combined company plans to hold over 400,000 ether, valued at more than $1.5 billion, making it the largest public Ethereum treasury. The merger is backed by major crypto firms including Kraken and Blockchain.com, with a $645 million anchor investment from co-founder Andrew Keys. The Ether Machine aims to be an active ether generation company and will go public on Nasdaq under the ticker ETHM. The deal includes a $863 million private investment in public equity (PIPE) and values the company at approximately $1.7 billion. This development is seen as a major institutional bet on Ethereum amid a crypto-friendly regulatory environment.