PANews reported on April 12 that, according to CoinDesk, Ethereum treasury company The Ether Machine stated that the $1.6 billion SPAC merger plan between Dynamix Corporation (DYNX) and The Ether Machine has been terminated due to unfavorable market conditions. Dynamix will receive $50 million in compensation within 15 days.

The agreement, first announced in July 2025, aims to list The Ether Machine on Nasdaq under the ticker symbol ETHM. The deal includes a fully committed $1.5 billion PIPE funding round, in addition to approximately $170 million held in the Dynamix trust account. The combined company is expected to have a balance sheet of over 400,000 ETH.