The Ether Machine, a crypto firm focused on holding ether, and SPAC Dynamix Corp. have ended their planned US$1.6 billion merger that was announced in July 2025 and would have taken The Ether Machine public on Nasdaq as ETHM.

The Ether Machine said the parties mutually agreed to terminate the deal because of unfavorable market conditions, and an SEC filing showed Dynamix will receive a US$50 million payment within 15 days.