ETHZilla sells $40 million ETH to fund share repurchases

ETHZilla Corporation (NASDAQ: ETHZ) sold approximately $40 million of its Ethereum holdings to fund stock repurchases, according to a company statement.

The technology company has repurchased approximately 600,000 shares for about $12 million since Oct. 24, 2025, under its existing board-authorized $250 million stock repurchase program. The company plans to use remaining proceeds from the ETH sale for additional share repurchases.

"We are leveraging the strength of our balance sheet, including reducing our ETH holdings, to execute share repurchases," said McAndrew Rudisill, chairman and chief executive officer of ETHZilla. "By opportunistically repurchasing shares while our stock is trading below NAV, we plan to reduce the number of shares that are available for stock loan/borrow activity, while increasing the NAV per share of the Company."

ETHZilla continues to hold approximately $400 million of ETH on its balance sheet to support future strategic initiatives. The company stated it intends to continue selling ETH to repurchase shares until the discount to net asset value is normalized.

The Palm Beach, Florida-based company describes itself as operating in the decentralized finance industry, connecting traditional finance with blockchain technology through Ethereum Network protocol implementations.

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