[https://t.co/uqD6Bz7d7B] ETHZilla approves $250M share buyback, reports 102,237 #ETH ($489M) at $3,948.72 average, $215M cash, plans staking via Electric Asset Protocol $ETHZ $ETH
ETHZilla (NASDAQ: ETHZ) approved a $250M share repurchase plan and revealed holdings of 102,237 ETH worth about $489M at an average price of $3,948.72. The company also holds $215M in cash and plans to stake newly acquired ETH via the Electric Asset Protocol.
ETHZilla is now the 5th treasury company to break the 100,000 ETH barrier. @ETHZilla_ETHZ hungers for even more ETH! https://t.co/F1OXJEH4Ov https://t.co/LXbqxKG5tI

Blockchain infrastructure firm ETHZilla said its board has approved a share-repurchase program of up to $250 million, adding an equity-market tool to a balance sheet already heavily weighted toward cryptocurrency. The company disclosed a treasury position of 102,237 ether worth roughly $489 million, making it the fifth listed company to hold more than 100,000 ETH. The tokens were accumulated at an average price of $3,948.72. ETHZilla also reported $215 million in cash. Management said newly acquired ether will be staked through the Electric Asset Protocol to generate additional yield. Earlier this month, ETHZilla amended a sales agreement to establish a $10 billion at-the-market stock-offering program, giving the firm flexibility to raise capital even as it moves to buy back shares.


