ETHZilla announces share buyback after significant price drop

Ethereum treasury company, ETHZilla Corporation (formerly 180 Life Sciences), has just announced a share buyback program worth 250 million USD, effective immediately. This move comes after the company's stock price #ETHZ fell more than 50% over the past week.

Reasons and company actions

ETHZ shares have sharply declined after the company filed an SEC application for the issuance of an additional 74.8 million convertible shares, raising concerns about stock dilution. However, despite this decline, ETHZilla continued to purchase an additional 7,600 ETH in the past week, bringing the total Ethereum holdings to 102,237 $ETH , worth approximately 474 million USD.

Additionally, ETHZilla plans to stake the recently purchased Ethereum to generate additional profits.

Commitment to investors

McAndrew Rudisill, the CEO of ETHZilla, stated that this share buyback program aims to demonstrate the company's commitment to maximizing value for shareholders. He emphasized that ETHZilla will continue to pursue the Ethereum treasury strategy with discipline and speed.

Although the ETHZ stock price is declining, Ethereum is still expected to continue appreciating. Data shows that ETH reached a record high of nearly 5,000 USD last weekend, and 86% of users predict ETH will surpass the 5,000 USD mark by the end of 2025. #anhbacong