Company ETHZilla, formerly known as 180 Life Sciences, has announced a $250 million stock buyback to strengthen its market value.
Stock Buyback Program
ETHZilla has approved a stock buyback program of up to $250 million, scheduled for completion by June 30, 2026. The buyback will occur either in the open market or through deals with institutional investors at market rates.
Current Company Assets
ETHZilla currently holds 102,237 ETH, valued at approximately $489 million. The company also has around $215 million in cash equivalents, enabling it to finance the stock buyback.
ETHZilla's Strategy
According to Executive Chairman McAndrew Rudisill, the company continues to enhance its ETH reserve strategy and pursue differentiated yield opportunities. He noted that an aggressive stock repurchase program at current levels underscores the commitment to maximizing value for shareholders.
The launch of the stock buyback program and significant increase in ETH reserves highlights ETHZilla's proactive steps to improve its market position and enhance shareholder value.
