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ETHZilla reduces ETH stash to 69,800 after $74M sale tied to debt payoff
Source: CryptoBriefing Original Title: ETHZilla reduces ETH stash to 69,800 after $74M sale tied to debt payoff Original Link: https://cryptobriefing.com/eth-sale-ethzilla-balance/
Key Takeaways
Content
ETHZilla Corporation sold approximately 24,291 ETH for about $74.5 million, according to its December 19 Form 8-K filing with the US Securities and Exchange Commission.
The average price on the sales was roughly $3,068 per ETH. The company currently holds about 69,800 ETH on its balance sheet following the transaction.
The sale is tied to the planned early redemption of the company’s senior secured convertible notes, with redemptions scheduled for December 24 and December 30, 2025.
ETHZilla said it expects to use all, or a significant portion, of the proceeds to fund the redemption, noting that cash on hand will also be used to close out the notes.
ETHZilla said it will focus on revenue and cash flow growth from its RWA tokenization business and has discontinued its mNAV dashboard as part of the shift.
The firm will continue to provide balance sheet updates and disclose material ETH or share changes via filings and social media. Its 8-K filing also notes new board appointments and says ETHZilla may explore further ETH sales or equity offerings to support its plans.