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ETHZilla's $250 Million Stock Buyback Program Amid Stock Volatility

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by Giorgi Kostiuk

2 hours ago

ETHZilla, formerly known as 180 Life Sciences, has announced the start of a $250 million stock buyback program. This decision comes amid market instability.

Announcement of the Buyback Program

ETHZilla has announced a stock buyback program of up to $250 million, effective immediately, approved by its board of directors.

Reasons for ETHZilla's Stock Volatility

Currently, ETHZilla shares are trading at $3.18, down 53% from the previous week. High volatility follows news of billionaire Peter Thiel acquiring a stake and the subsequent filing for 74.8 million convertible shares, raising concerns about dilution.

Company Strategy in Ethereum

ETHZilla continues to strengthen its position in Ethereum, holding 102,237 Ether (ETH) worth approximately $489 million. The company also stated its intention to hold recently acquired ETH long-term to generate yield.

At ETHZilla, we continue to deploy capital to accelerate our Ethereum treasury strategy with discipline and record speed.McAndrew Rudisill

The stock buyback program and the accumulation of cryptocurrency assets underscore ETHZilla's commitment to strengthen its market position despite volatility.

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