TLDR ETHZilla sold 24,291 ETH worth $74.5 million at an average price of $3,068.69 per token to repay convertible debt obligations. The company now holds approximatelyTLDR ETHZilla sold 24,291 ETH worth $74.5 million at an average price of $3,068.69 per token to repay convertible debt obligations. The company now holds approximately

ETHZilla (ETHZ) Stock: Why This Peter Thiel Investment Is Selling Ethereum

TLDR

  • ETHZilla sold 24,291 ETH worth $74.5 million at an average price of $3,068.69 per token to repay convertible debt obligations.
  • The company now holds approximately 69,800 ETH on its balance sheet after the liquidation, down from over 94,000 tokens.
  • ETHZilla is shifting away from its digital asset treasury strategy to focus on tokenizing real-world assets like auto loans and real estate.
  • The company discontinued its mNAV dashboard, removing transparency metrics that tracked its crypto holdings against market cap.
  • Peter Thiel-backed ETHZilla’s stock is down more than 65% year-to-date, with shares declining nearly 4% following the debt repayment announcement.

ETHZilla unloaded a chunk of its Ethereum holdings last week. The company sold 24,291 ETH for $74.5 million to pay down its debt.

The sale happened at an average price of $3,068.69 per token. ETHZilla disclosed the transaction in a filing with the Securities and Exchange Commission.

Ethereum (ETH) PriceEthereum (ETH) Price

The proceeds are earmarked for redeeming outstanding senior secured convertible notes. This marks the second major sell-off in recent months for the company.

Back in October, ETHZilla liquidated $40 million worth of ETH as part of a stock repurchase plan. The pattern shows mounting pressure to manage debt as crypto prices swing.

The company now holds about 69,800 ETH on its balance sheet. That’s worth roughly $207 million at current prices.

ETHZilla started life as 180 Life Sciences Corp, a clinical-stage biotech company. The firm pivoted to an Ethereum-focused strategy in July after entering a $425 million PIPE agreement with over 60 investors.

The timing looked promising. Smaller Nasdaq companies were rushing to copy Strategy’s Bitcoin playbook, hoping to strike gold with crypto treasuries.

Strategy Shift Away from Crypto Accumulation

But ETHZilla is now backing away from that approach. The company announced it’s dropping the digital asset treasury model to chase tokenized real-world assets instead.

The company also pulled the plug on its mNAV dashboard. The metric showed how market cap compared to crypto holdings, giving investors transparency into the treasury strategy.

Peter Thiel invested in ETHZilla during its crypto push. His backing sent shares soaring over 90% in August when the news broke.

Recent Acquisitions and Stock Performance

The company hasn’t given up on all deals. ETHZilla announced two acquisitions in December, grabbing a 20% stake in automotive-finance AI startup Karus and a 15% stake in digital housing lender Zippy.


ETHZ Stock Card
Ethzilla Corp., ETHZ

The stock isn’t responding well to any of this. Shares closed down 8.7% on Monday following the ETH sale announcement.

Year-to-date, the stock has tanked more than 65%. Shares traded around $6.64, a far cry from the August highs after Thiel’s investment became public.

ETHZilla isn’t alone in trimming crypto holdings. Other digital asset treasury companies are selling to shore up their finances as prices drop.

FG Nexus liquidated 10,922 ETH in late October to fund a share buyback program. Sequans Communications sold 970 Bitcoin in November to cut its convertible debt in half.

Even Strategy, the poster child for Bitcoin treasuries, raised $747.8 million by selling stock last week. The company moved quickly as Bitcoin retreated from its record high above $126,000.

Ethereum currently trades around $3,000. The token has dropped nearly 30% over the past three months, squeezing companies that bet big on accumulation strategies.

Public companies collectively hold about 6 million ETH, representing roughly 5% of the token’s circulating supply. More than 190 listed companies also hold Bitcoin on their balance sheets.

ETHZilla’s filing with the SEC on Friday confirmed the transaction details and updated holdings as of December 20, 2025.

The post ETHZilla (ETHZ) Stock: Why This Peter Thiel Investment Is Selling Ethereum appeared first on CoinCentral.

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