ETHZilla

ETHZilla (formerly 180 Life Sciences) announced it has accumulated 82,186 ETH, valued at approximately $349 million, with an average purchase price of $3,806.71. The company also maintains $238 million in USD cash equivalents. ETHZilla plans to generate yield from its ETH holdings through staking strategies managed by Electric Capital. The company is pivoting towards software-enabled gaming and entertainment, aiming to be a leader in on-chain treasury management and will provide regular updates on its progress.

ETHZilla (formerly 180 Life Sciences) closed a $425 million private placement to advance its Ethereum treasury strategy. The company plans to rapidly increase its ETH holdings and execute a differentiated yield generation program in partnership with Electric Capital and with guidance from a new DeFi Council. ETHZilla aims to become a benchmark for on-chain treasury management, offering investors exposure to the Ethereum network. The capital will also support existing iGaming operations and IP monetization. The executive team and board have been expanded with crypto and capital markets expertise.