ETHZilla jumps over 90% as Peter Thiel takes stake and firm discloses 82,186 ETH holdings

180 Life Sciences, which is rebranding to ETHZilla, saw its share price surge over 90% on Tuesday after Peter Thiel-controlled entities announced they had acquired a 7.5% stake in the company.

The firm also disclosed holding 82,186 ETH, bought at an average price of $3,806.71, and valued at approximately $349 million.

ETHZilla closed a $425 million private placement earlier this month, with over 60 participants, including prominent crypto investors and founders, and holds $238 million in USD cash equivalents.

The company aims to build a differentiated Ethereum treasury vehicle, with plans to generate cash flow through onchain yield strategies.