ETHZilla Corporation, a technology company that combines traditional finance 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 share repurchase program approved by the current board of directors. ETHZilla plans to use the remaining funds for additional share repurchases and continue selling ETH until the discount to net asset value (NAV) per share returns to normal levels.
ETHZilla CEO McAndrew Rudisill made the following statement on the matter:
“We are leveraging our balance sheet strength to reduce our ETH holdings and fund share buybacks. We anticipate this step will directly enhance company value in the current environment where our shares are trading below NAV. At the same time, these buybacks will increase the company’s NAV per share while reducing the number of shares available for equity lending/debt activities.”
It has been reported that the company currently has approximately $400 million worth of ETH on its balance sheet and these assets will be used for future strategic initiatives.
*This is not investment advice.