180 Life Sciences Corp. (NASDAQ:ATNF), now operating under the name ETHZilla, experienced a sharp 75% increase in its stock price after announcing it holds 82,186 Ethereum tokens valued at roughly $349 million.
The company revealed it acquired this sizable ETH position at an average cost of $3,806.71 per token. Alongside its cryptocurrency assets, ETHZilla also holds about $238 million in U.S. dollar cash equivalents, resulting in a total treasury value near $587 million.
“At ETHZilla we have put over $350 million in capital to work since the PIPE transaction we completed last week, and have executed on our strategy to rapidly build a differentiated Ethereum treasury vehicle,” said McAndrew Rudisill, Executive Chairman.
The firm plans to keep the recently acquired Ethereum tokens for the long term, staking them through Electric Capital’s proprietary strategies on the Ethereum network to generate yield. Rudisill added that the ETH reserves “will unlock cash flow for our shareholders as we seek to deliver on our on-chain yield generation program.”
According to company filings, ETHZilla has 154.032 million shares outstanding as of August 5, 2025. The company will continue updating investors on its treasury management and yield generation initiatives via public announcements and regulatory disclosures.
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