ETHZilla Corporation, a technology company that combines traditional and decentralized finance, announced that it has completed the sale of approximately $40 million worth of ETH and that the proceeds will be used for share buybacks.
Following the sale on October 24, 2025, the Company repurchased approximately 600,000 shares for $12 million under a $250 million stock repurchase program approved by the current Board of Directors. ETHZilla plans to use the remaining funds for additional share buybacks and continue selling ETH until the net asset value (NAV) discount per share returns to normal levels.
McAndrew Rudisill, CEO of ETHZilla, released the following statement regarding this matter:
“We are leveraging the strength of our balance sheet to reduce our ETH holdings and fund share repurchases. We expect this action to directly increase corporate value in the current environment where our shares are trading below NAV. At the same time, these share repurchases increase our NAV per share while reducing the number of shares available for lending/borrowing activities.”
The company currently has approximately $400 million worth of ETH on its balance sheet, and it is reported that these assets will be used for future strategic initiatives.
*This is not investment advice.