Peter Thiel and his investment group hold a significant stake in ETHZilla, the company developing an Ethereum-based corporate treasury.
ETHZilla (formerly 180 Life Sciences) uses the raised capital to purchase Ethereum, engage in yield farming, and expand its iGaming business. Following this news, the company's stock surged significantly.
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Peter Thiel and the investment group own a 7.5% stake in ETHZilla.
ETHZilla raises funds to invest in Ethereum, yield farming, and iGaming business.
ETHZilla's stock rose 11% after the announcement and had increased 57% overnight prior.
What role do Peter Thiel and the investment group play at ETHZilla?
Peter Thiel and his investment group own a 7.5% stake in ETHZilla, a company specializing in building Ethereum-based corporate treasuries.
This information is confirmed from filings submitted to the U.S. Securities and Exchange Commission (SEC) in August. Thiel's investment move with the team shows strong confidence in the growth potential of ETHZilla and the corporate treasury sector on the Ethereum Blockchain.
How does ETHZilla plan to utilize the raised funds?
The company plans to use the raised capital through a private equity placement to buy Ethereum, engage in yield farming activities, and develop the iGaming sector.
This funding will help ETHZilla expand its business operations and increase profitability from cryptocurrency assets while also seizing opportunities in the iGaming market, which is experiencing rapid growth.
What was the market reaction after the news about ETHZilla?
ETHZilla's stock has risen nearly 11% after the market closed on August 12, continuing a rise of about 57% overnight prior.
The increase in stock price reflects positive expectations from investors regarding the successful transition to an Ethereum-based treasury company and effective investment strategies in the DeFi and gaming sectors.
"Our investment in ETHZilla marks a strategic advancement in integrating traditional finance with advanced blockchain technology platforms."
Peter Thiel, co-founder of PayPal (August 2024)
What similarities do ETHZilla and BitMine Immersion share in their investment strategies?
Earlier in July, Peter Thiel's investment group held over 9% of BitMine Immersion, which has the largest Ethereum corporate treasury with nearly $5 billion in reserves.
This indicates Thiel's investment strategy focuses on organizations integrating Ethereum-based treasuries to leverage the power of cryptocurrency and DeFi in corporate financial management.
How did ETHZilla raise funds to develop the company?
At the end of July, ETHZilla announced plans to raise approximately $425 million through a private placement to transform into a professional Ethereum reserve treasury company.
This large fundraising allows ETHZilla to expand its operations and enhance its ability to attract and manage deep cryptocurrency assets for businesses.
How does ETHZilla leverage an Ethereum-based treasury strategy?
ETHZilla focuses on developing a corporate treasury using Ethereum as the main platform, combining yield farming and iGaming projects to create diverse revenue streams.
This strategy not only increases profitability but also enhances liquidity and the efficiency of digital asset use, aiming towards a modern business model integrated with blockchain technology.
Frequently Asked Questions
What percentage of shares does Peter Thiel own in ETHZilla?
Peter Thiel and the investment group hold a 7.5% stake in ETHZilla according to SEC filings from August 2024.
What does ETHZilla use the raised funds for?
ETHZilla plans to use the capital to purchase Ethereum, engage in yield farming, and develop the iGaming sector.
How did ETHZilla's stock react after the investment news?
The stock increased by 11% immediately after the market closed on August 12, having previously risen 57% overnight.
Which other companies has Thiel invested in related to Ethereum?
Thiel's group once owned over 9% of BitMine Immersion, the largest Ethereum treasury company with nearly $5 billion in reserves.
How much capital has ETHZilla raised by the end of July?
The company plans to raise approximately $425 million through a private placement to become an Ethereum treasury.
Source: https://tintucbitcoin.com/ethzilla-huy-dong-von-thiel-dau-tu/
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