ETHZilla Loads Up on 102K Ethereum and Greenlights $250M Stock Buyback

TLDR:

• ETHZilla disclosed 102,237 ETH valued at $489M, purchased at an average price of $3,948.72 per coin.
• The company approved a $250M share repurchase program, effective immediately, according to its latest SEC filing.
• ETHZilla also reported $215M in cash reserves alongside its growing Ethereum treasury strategy.
• The firm plans to stake newly purchased ETH using the Electric Asset Protocol for yield generation.

ETHZilla has lately made a bold move. The Nasdaq-listed company authorized a $250 million stock repurchase program while disclosing its Ethereum stash. 

The filing revealed that ETHZilla now controls more than 102,000 ETH, worth close to half a billion dollars at current prices. It also confirmed more than $200 million in cash reserves. The company is preparing to stake newly purchased ETH to generate yield through its Electric Asset Protocol.

ETHZilla Ethereum Holdings and Cash Position

Wu Blockchain flagged the development after ETHZilla’s filing showed it has been aggressively building its Ethereum position. The company said it now holds 102,237 ETH, acquired at an average cost of $3,948.72. At current market levels, those holdings are valued around $489 million.

ETHZilla added that it maintains $215 million in cash equivalents. This dual treasury structure of crypto and fiat gives the firm flexibility in its capital management. It also noted that the most recent ETH purchases will be staked long term.

Weekly updates revealed steady accumulation through August. From 82,200 ETH on August 10, balances rose to 94,700 a week later, then 102,200 by August 24. Average purchase prices climbed from $3,807 to $3,949 in that period.

The company clarified that ETH tallies include coins under purchase agreements, ensuring transparency in its reported balance. Cash equivalents exclude amounts already committed toward future ETH buys.

Stock Repurchase Program Details

Alongside the crypto holdings disclosure, ETHZilla confirmed its board approved a $250 million share repurchase plan. The program became active immediately and may run through June 30, 2026.

Repurchases will be made in the open market or through negotiated deals, depending on market conditions and available capital. The company noted that buybacks may also be conducted under a Rule 10b5-1 plan, which allows trading during blackout periods.

The plan carries no obligation to purchase a set number of shares. ETHZilla stated it may modify, suspend, or end the program at any time. Management said purchases will be funded through working capital and proceeds from at-the-market offerings.

As of August 22, the firm listed 165.4 million shares outstanding. Executives said the buyback plan reflects a commitment to shareholder value alongside its growing Ethereum reserves.

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