ETHZilla approves $250m stock buyback, reveals $489M in Ethereum holdings
New Ethereum treasury firm ETHZilla hopes to boost its share price with a major stock buyback.
- ETHZilla announced a $250M stock buyback to boost its share price
- Firm holds 102,237 ETH, worth about $489 million
- The company has $215 million in cash holdings
More firms are publicly embracing the crypto treasury strategy. On Monday, August 25, the recently rebranded ETHZilla approved a $250 million stock buyback in an effort to strengthen its share price. In addition, the firm revealed it has total holdings of 102,237 ETH, valued at about $489 million.
ETHZilla will repurchase stock until buying up to a maximum of $250 million, scheduled to be completed by June 30, 2026. The company will acquire shares either on the open market or through deals with institutional investors at market rates.
The company should not face issues funding these repurchases. In the same press release, ETHZilla disclosed it currently holds approximately $215 million in cash equivalents.
Why ETHZilla is repurchasing stocks
The move to repurchase the company’s stock does two things. It puts pressure on its stock price, as well as increasing the ETH per share metric for the firm. Both of these will likely help boost the company’s share price.
“At ETHZilla, we continue to deploy capital to accelerate our Ethereum treasury strategy with discipline and record speed,” said McAndrew Rudisill, Executive Chairman of the Company. “As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders.”
Formerly 180 Life Sciences, the company completed a rebrand to ETHZilla on August 18 to pursue an Ethereum treasury strategy and an acquisition of $419 million in ETH. Almost immediately, the shift paid off, with its stock advancing as much as 70% following the announcement.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Reserve Bank of India’s Efforts to Save the Rupee Deplete Reserves: $50 Billion Plunge in Forex Holdings, $200 Billion Forward Dollar Liabilities Become a Ticking Time Bomb
Foreign investors have made net sales of $31 billion in Indian stocks this year, and administrative controls are accelerating hedging demand towards the offshore NDF market, with the effectiveness of interventions continuously diminishing. The most critical risk lies in the fact that the yield spread between Indian and US 10-year government bonds has sharply dropped from 600 basis points in 2013 to just 200 basis points, with the traditional interest rate defense line nearly breached. India faces a dilemma: persisting on the current path will exhaust policy space, while relying on rate hikes to rebuild the yield spread would directly stifle economic growth.
As Starlink challenges telecom operators' pricing power, AT&T (T.US) sells its Mexico business for $2 billion, shifting focus to AI connectivity demand.
AT&T has agreed to sell its Mexico operations to Televisa and Fintech for $2 billion. The transaction is expected to be completed in the first quarter of 2027, pending approval from Mexican regulators.
Dovish Signals Boost Markets: Asia-Pacific Stocks Rebound, South Korea Shares Jump Over 1% Ending Five-Day Slide, Taiyo Yuden Surges 7%
On Wednesday, the MSCI Asia-Pacific Index rose by 0.2%, making a slight rebound from the low point reached on Tuesday, the lowest since August. South Korea's Composite Index briefly rose by over 2%. SK Hynix and Samsung Electronics both surged more than 3% during trading, then fell back. The Nikkei 225 expanded its gains to 0.53%. MLCC giant Taiyo Yuden led the AI hardware sector, while Fujikura rose nearly 4%. The yield on 10-year US Treasury futures remained at 5.21%, up 0.5 basis points from Tuesday.
Crypto prices
More
