180 Life Sciences Corp (ATNF), operating under the name ETHZilla, announced that it owns 82,186 tokens of Ether worth approximately $349 million as of 11/08/2025. The company purchased the cryptocurrency at an average price of $3,806.71 per token.

The biotech company also holds approximately $238 million in cash equivalents alongside its position in Ethereum. The company completed a PIPE transaction last week that provided capital to purchase the cryptocurrencies.

Mikandrew Rodesil, the CEO of the company, stated: "At ETHZilla, we have invested over $350 million of capital since the PIPE transaction we completed last week, and we have executed our strategy to rapidly build a distinctive Ethereum treasury vehicle."

The company plans to rename itself to ETHZilla and has partnered with Electric Capital to manage its treasury strategy. According to the company, the newly acquired Ethereum will be allocated through Electric Capital's Ethereum network strategies to generate yield.