ETHZilla Crosses 100K in ETH Holdings

ETHZilla (ETHZ) authorized a $250 million stock repurchase program on Monday as it looks to shore up shareholder value while continuing to expand its ether reserves, which just crossed the 100,000 ETH line after its purchase last week of 7.6K ETH.
What’s the Scoop?
- Buyback Plan: The program runs through June 30, 2026, or until the full $250 million is used. Management said buybacks are a way to offset dilution and highlight confidence in the firm’s strategy.
- ETH Holdings: ETHZilla reported 102,237 ETH worth $489 million, purchased at an average $3,948.72 per token, alongside $215 million in cash equivalents.
- Shareholder Moves: The buyback news followed Friday’s sharp 30% stock drop after shareholders filed to sell up to 74.8 million convertible shares. ETHZ shares are down nearly 60% since last Monday's open.