Ethereum Treasury Ethzilla reveals $ 250 million back purchase after stock craters

Ethzilla Corporation – A public traded Ethereum Treasury Firm Previously known as 180 Life Sciences– Monday assumed that the board has authorized a share purchasing program of a maximum of $ 250 million of the outstanding shares of the company, immediately in force.

The move comes after a substantial dive for the company’s share price last week. Ethzilla, who acts on the Nasdaq under ETHZ, falls more than 53% of the week to a current price of $ 3.18, with the decrease after an increase in that tripled the value of the stock After billionaire VC Peter Thiel bought an interest in the company.

Last week’s price fall came as the company submitted to the sec on Friday to offer 74.8 million convertible shares, as part of an agreement reached on 8 August. The archiving defense, since the total amount of outstanding shares will grow from 164.4 million to more than 239.2 million.

ETHZ shares fall nearly 3.8% on the day after the shares’ purchase announcement. Ethzilla has given up the majority of its recent profit after last week’s price decrease, with the shares rising less than 5% last month.

The company, based in Florida, also announced it has now known that it now owns 102.237 ETH at an average acquisition price of $ 3,948.72, with a value of around $ 474 million from this letter. The company also has around $ 215 million in kasequivalents. The Ethereum count comprises 7,600 ETH that was acquired last week.

“At Ethzilla we continue to use capital to accelerate our Ethereum Treasury strategy with discipline and registration speed,” said Ethzilla Executive chairman Mcandrew Rudisill, in a release. “While we continue to scales our ETH reserves and pursue differentiated yield options, we believe that an aggressive share purchasing program against the current stock price underlines our dedication to maximize the value for shareholders.”

Ethzilla is planning to use its most recently purchased Ethereum tokens for Electric Capital’s own electric asset protocol to generate yield, the company said.

The stock buying program is planned for 30 June 2026, or when $ 250 million in shares has been purchased. The program will be financed by working capital and potential future fundraising efforts.

The Ethereum prize reached all time in almost four years in almost four years in almost four years and continued to rise higher on Sunday, with a new record of $ 4,946 according to data from Coetecko. It has fallen by more than 4%for the past 24 hours, but drops to a current price of $ 4,604 as the wider crypto market transitions.

Despite the dip, countless users believe that ETH will continue to rise to new peaks and cross the milestone of $ 5,000 by the end of 2025, with 86% of users predicting such a movement. (Disclaimer: Myriad Markets is a product of DecryptThe parent company, Dastan.)