TLDR
- 180 Life Sciences Corp. (ATNF) rebranded to ETHZilla and acquired 82,186 Ethereum tokens worth $349 million
- Stock surged 400% this week, jumping 44% Wednesday and 207% Tuesday following the crypto pivot
- Company holds total treasury value of $587 million including $238 million in cash equivalents
- Peter Thiel’s Founders Fund backs the company, which is following MicroStrategy’s Bitcoin strategy with Ethereum
- ETHZilla plans to stake its Ethereum holdings through Electric Capital to generate yield for shareholders
180 Life Sciences Corp. made headlines this week after announcing a dramatic shift from biotech to cryptocurrency. The company revealed it now holds 82,186 Ethereum tokens valued at approximately $349 million.
The stock price reflected investor enthusiasm for the pivot. Shares jumped 44% to $14.78 when markets opened Wednesday. This followed a massive 207% gain on Tuesday.
The week’s total return reached 432%. The company acquired its Ethereum position at an average cost of $3,806.71 per token.
ETHZilla, as the company now calls itself, holds an additional $238 million in cash equivalents. This brings the total treasury value to roughly $587 million.
Executive Chairman McAndrew Rudisill said the company executed its strategy to build a “differentiated Ethereum treasury vehicle.” The firm completed a PIPE transaction last week that provided capital for the crypto purchases.
The transformation mirrors MicroStrategy’s successful pivot to Bitcoin. That company, now called Strategy, shifted from software development to cryptocurrency accumulation. MicroStrategy’s Bitcoin strategy has generated substantial returns for shareholders over the past several years.
Staking Strategy for Yield Generation
ETHZilla plans to stake its Ethereum holdings through Electric Capital’s proprietary strategies. This approach aims to generate yield on the network while holding tokens long-term.
Rudisill explained that the ETH reserves “will unlock cash flow for our shareholders as we seek to deliver on our on-chain yield generation program.” The staking mechanism allows token holders to earn rewards by validating transactions on the Ethereum blockchain.
Peter Thiel’s Founders Fund backs the company through its investment portfolio. Thiel co-founded PayPal and Palantir and was an early Facebook investor. His involvement adds credibility to the crypto pivot strategy.
Corporate Structure and Outlook
The company maintains 154.032 million shares outstanding as of August 5, 2025. ETHZilla stated it will continue updating investors through public announcements and regulatory disclosures.
The rebranding reflects management’s belief that Ethereum will become central to the global financial system. The company’s website emphasizes this thesis and outlines plans to increase Ethereum holdings per share over time.
The strategic deployment of holdings aims to maximize value for shareholders. ETHZilla expects to generate returns through both token appreciation and staking rewards.
Management characterized the move as putting “over $350 million in capital to work” since completing the recent financing transaction. The speed of execution demonstrates the company’s commitment to the new strategy.
The biotech-to-crypto transformation represents one of the more dramatic corporate pivots in recent market history. 180 Life Sciences previously focused on dietary supplements and food ingredients before embracing digital assets.
ETHZilla’s treasury management approach combines long-term holding with active yield generation. This dual strategy seeks to capture both capital appreciation and income from the Ethereum ecosystem.
The company plans regular updates on treasury performance and staking returns. Investors can expect continued transparency regarding the execution of the Ethereum accumulation strategy.
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