ETHZilla Approves $250 Million Share Buyback and Holds $489 Million in ETH

ETHZilla, a NASDAQ-listed treasury firm, approved a $250 million share repurchase plan. The firm holds 102,237 ETH, valued at approximately $489 million, acquired at an average price of $3,948.72 per coin.

Key facts include:

Total holdings amount to about $704 million, including around $215 million in USD cash equivalents.
ETHZilla may repurchase up to half of its outstanding stock depending on market conditions.
Current stock price is $3.33, with a trading volume of $25,509,723.
Stock reached a six-month high of $17.4 on August 13, closing the day at $10.7.
Ethereum is stable around $4,620 after reaching an all-time high of $4,900 on August 23.
ETHZilla has been accumulating ETH, purchasing 12.5 coins during the week of August 17 and 7.6 the following week.
Purchased ETH will be staked to generate yield via Electric Capital’s Electric Asset Protocol.

ETHZ stock reached a six-month high on Aug. 13.