TLDR
- ETHZilla boosts ETH stash to $443M, pairs buybacks with bold treasury moves.
- Leadership shift: Rudisill takes CEO role as ETHZilla doubles down on growth.
- ETHZilla ramps ETH holdings, balances $213M cash with $250M buyback plan.
- New CEO Rudisill steers ETHZilla into aggressive treasury and stock strategy.
- ETHZilla leans on OTC financing to fuel buybacks and expand ETH dominance.
ETHZilla(ETHZ) closed at $2.44, posting a 5.63% daily gain and maintaining strong momentum despite recent volatility.
The company now holds 102,246 ETH valued at approximately $443 million, alongside $213 million in cash equivalents. ETHZilla also repurchased 2.2 million shares, reducing its share count and signaling confidence in its valuation.
New Leadership Takes Charge at ETHZilla
ETHZilla appointed Executive Chairman McAndrew Rudisill as CEO on September 4, replacing Blair Jordan. Rudisill now holds dual roles as Chairman and CEO and aims to drive the company’s next growth phase. His leadership shift comes as ETHZilla intensifies focus on shareholder returns and ETH accumulation.
The leadership change reflects a broader strategy alignment, emphasizing operational efficiency and capital deployment. Rudisill is expected to balance ETHZilla’s crypto holdings with agile financial management. The transition supports the company’s aggressive approach in building value amid evolving crypto market trends.
Rudisill’s appointment aligns with ETHZilla’s capital strategies, including the OTC deal and buyback plan. ETHZilla signals a clear shift toward stronger treasury management while expanding its digital asset position. The leadership realignment underpins the firm’s intent to lead among crypto-treasury peers.
$443M in ETH and Counting: ETHZilla Ramps Up Holdings
ETHZilla increased its ether holdings to 102,246 ETH, acquired at an average cost of $3,949. This strategic build-up solidifies ETHZilla as a significant ETH treasury holder among Nasdaq-listed firms. The ether position now represents over $443 million in value based on current market rates.
The company added 7.6K ETH in the week ending August 24 but paused further acquisitions through September 5. ETHZilla’s total holdings also include agreements to purchase additional ETH in the future. The company continues to maintain a disciplined ETH accumulation strategy amid broader institutional interest.
ETHZilla balances ETH investments with liquid reserves of approximately $213 million. These cash equivalents provide flexibility for operations and support potential future purchases. By managing both ETH and cash holdings, ETHZilla positions itself to respond quickly to market shifts.
Aggressive Buyback Strategy Backed by OTC Financing
ETHZilla secured up to $80 million in OTC financing through a deal with Cumberland DRW, using a portion of its ETH as collateral. The company intends to deploy the funds toward its $250 million stock repurchase program. This move aims to capitalize on what ETHZilla sees as undervaluation relative to its net asset value.
With $28.2 million raised via ATM share sales in August, ETHZilla built liquidity to support repurchases. No ATM issuance occurred in the week ending September 5, indicating a tactical pause. ETHZilla’s stock buyback, executed at an average price of $2.50, reduced the outstanding shares by 1.3%.
The company continues to report treasury updates and on-chain yield plans through official channels. ETHZilla maintains transparency in its financial activities while executing its strategic priorities. The repurchase initiative underscores a bold stance on capital allocation and long-term share value.
