- ETHZilla holds 102,246 ETH, valued at $443 million, and $213 million in cash equivalents.
- ETHZilla secures $80M financing from Cumberland, collateralized by ETH.
- The company’s stock buyback program has repurchased 2.2 million shares.
- McAndrew Rudisill replaces Blair Jordan as ETHZilla’s new CEO effective Sept. 4.
ETHZilla Corporation has rapidly grown its Ethereum (ETH) treasury to nearly $500 million, following the acquisition of 102,246 ETH at an average price of $3,948 per token. At current prices, this Ethereum position is worth approximately $443 million. Additionally, the company holds about $213 million in cash equivalents, further strengthening its balance sheet.
The company’s strategy of accumulating ETH aligns with broader trends in the crypto sector, as treasury firms intensify their crypto holdings in the second half of 2025. ETHZilla aims to position itself as a public company benchmark for on-chain treasury management, utilizing its Ethereum assets to support its growth and capital strategies.
New Leadership at ETHZilla
In a significant shift, ETHZilla has appointed McAndrew Rudisill as its new CEO, effective September 4, 2025. Rudisill, who previously served as Executive Chairman, replaces Blair Jordan. The leadership change comes as ETHZilla continues to evolve its corporate structure and expand its operations.
Rudisill expressed confidence in the company’s direction, noting that the leadership transition is aligned with ETHZilla’s broader goals to strengthen its capital allocation strategy and treasury management.
Rudisill stated, “I’m excited to lead ETHZilla into its next stage of growth as CEO. We believe our disciplined capital allocation approach will deliver long-term value for shareholders.” He also acknowledged Jordan’s leadership, thanking him for his contributions during his tenure.
Strategic Financing and Stock Buybacks
ETHZilla also secured a $80 million financing deal with Cumberland DRW, a crypto liquidity provider, to further bolster its position. The financing is collateralized by a portion of the company’s ETH holdings. According to the company, the proceeds from the deal will be used to fund its ongoing $250 million stock repurchase program.
To date, ETHZilla has repurchased around 2.2 million shares at an average price of $2.50 per share, reducing its outstanding shares by 1.3%. This move reflects the company’s belief that its stock is currently trading at a discount to its net asset value (NAV), making stock buybacks an attractive opportunity.
“We believe repurchasing shares is an accretive use of capital,” Rudisill added, underscoring the company’s focus on returning capital to shareholders while pursuing strategic objectives.
Continued Accumulation and Future Outlook
ETHZilla’s accumulation strategy is part of a broader trend among crypto firms focusing on ETH as a long-term store of value. In addition to its direct ETH purchases, the company has committed to a partnership with Electric Capital and a liquid restaking protocol, EtherFi, to manage and generate yield from its Ethereum holdings.
The company’s approach includes an ambitious goal of funneling $100 million into the EtherFi liquid restaking protocol, which aims to outperform traditional ETH staking methods. This strategic move is designed to enhance ETHZilla’s ability to generate returns on its Ethereum position, adding another layer of value to its operations.
ETHZilla’s future strategy includes ongoing updates to its treasury and yield generation tactics, with more details expected in press releases and regulatory filings in the coming months.
