PANews reported on August 4th that, according to GlobeNewswire , Ether Machine announced that its subsidiary , The Ether Reserve LLC, had increased its holdings by 10,605 ETH at an average price of $ 3,781 per ETH, bringing the company's total ETH purchases and commitments since its inception earlier this month to 345,362 . This increase was funded by a previous $ 97 million private placement. Ether Machine stated that it will continue to optimize ETH returns through staking and re-staking, and plans to provide infrastructure services to institutions and the Ethereum ecosystem.