ETHzilla Authorizes Stock Repurchase as Treasury Hits 102,000 ETH
ETHzilla has approved a $250 million stock repurchase program while disclosing $489 million worth of ETH holdings. The company plans to stake its ETH through a proprietary yield protocol, highlighting its dual strategy of shareholder returns and blockchain-driven growth.
$250 Million Buyback Launched by ETHzilla as ETH Holdings Near $500 Million
ETHzilla Corporation (Nasdaq: ETHZ) has authorized a stock repurchase program of up to $250 million, as part of its broader capital allocation strategy. According to a recent SEC filing, the company now holds 102,237 ETH at an average purchase price of $3,948.72.
ETHzilla’s ETH holdings, valued at approximately $489 million, are supplemented by $215 million in U.S. dollar cash equivalents. ETHzilla said its most recent ETH acquisitions are intended for long-term holding and will be staked via Electric Capital’s Electric Asset Protocol, a proprietary system designed to generate higher yields on digital assets.
“At ETHzilla, we continue to deploy capital to accelerate our ethereum treasury strategy with discipline and record speed. We believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders,” said McAndrew Rudisill, Executive Chairman of the Company.
The company emphasized flexibility, noting that the pace and scale of buybacks will depend on market conditions, stock performance, and available liquidity. Funding for the program will come from existing working capital and potential future financings, including at-the-market offerings.
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