{"id":57578,"date":"2025-12-23T09:32:06","date_gmt":"2025-12-23T02:32:06","guid":{"rendered":"https:\/\/hbbgroup.net\/ethzilla-liquidates-74-5m-in-ether-to-redeem-convertible-debt\/"},"modified":"2025-12-23T09:32:06","modified_gmt":"2025-12-23T02:32:06","slug":"ethzilla-liquidates-74-5m-in-ether-to-redeem-convertible-debt","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/ethzilla-liquidates-74-5m-in-ether-to-redeem-convertible-debt\/","title":{"rendered":"ETHZilla liquidates $74.5M in Ether to redeem convertible debt"},"content":{"rendered":"
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Crypto treasury company ETHZilla said in a filing with US regulators that it sold part of its Ether holdings to repay outstanding convertible notes amid a broader market downturn.<\/p>\n

The company disclosed in a filing<\/a> with the Securities and Exchange Commission the sale of 24,291 Ether (ETH<\/a>) for $74.5 million at an average price of $3,068.69 per token, leaving about 69,800 ETH on its balance sheet as of Friday. <\/p>\n

The company said it expects to use all or a significant portion of the proceeds to redeem its outstanding senior secured convertible notes. <\/p>\n

ETHZilla rebranded from 180 Life Sciences Corp<\/a> on July 29, pivoting away from biotechnology to an Ether-focused investment strategy. Until then, the former clinical-stage biotech had seen its shares fall more than 99.9% since going public in 2020.<\/p>\n

The news comes after ETHZilla announced two acquisitions in December, taking a 20% fully diluted stake in automotive-finance AI startup Karus<\/a> and a 15% stake in digital housing lender Zippy<\/a>. <\/p>\n

The former biotech company\u2019s stock closed the trading session declining 8.7% on Monday and is down more than 65% year-to-date, according to Google Finance data.<\/p>\n

Source: <\/em>Google Finance<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>Metaplanet clears issuance of dividend-paying shares for overseas institutions<\/strong><\/em><\/a><\/p>\n

Digital asset treasuries reposition as prices drop<\/h2>\n

In September, Cointelegraph reported that publicly traded companies have sharply increased<\/a> their Bitcoin (BTC<\/a>) exposure this year.\u00a0Data from BitcoinTreasuries.NET shows that more than 190 listed companies now hold Bitcoin on their balance sheets, with combined holdings exceeding 5% of Bitcoin\u2019s circulating supply<\/a> in September.<\/p>\n

Ether has gauged similar demand from investors. According to CoinGecko data<\/a>, 27 public companies collectively hold about 6 million ETH, also representing about 5% of the token’s circulating supply.<\/p>\n

Ether Treasury Holdings. Source: <\/em>CoinGecko<\/em><\/a><\/figcaption><\/figure>\n

With Bitcoin retreating from its Oct. 6 record high<\/a> of $126,000 and weakness spreading across altcoins including Ether, some digital-asset treasury companies are selling assets to strengthen their balance sheets.<\/p>\n

In late October, Ether treasury company FG Nexus began selling<\/a> its coins to fund a share repurchase program, liquidating 10,922 ETH alongside a separate debt draw to accelerate buybacks. The proceeds were used to support the repurchase of approximately 3.4 million shares at an average price of about $3.45 per share.<\/p>\n

In November, Sequans Communications said<\/a> it redeemed 50% of its outstanding convertible debt using proceeds from the sale of 970 Bitcoin. The transaction reduced total debt to $94.5 million and cut the company\u2019s Bitcoin holdings to 2,264 BTC, down from 3,234 BTC.<\/p>\n

On Friday, Strategy, the first public company to adopt a Bitcoin treasury strategy, said it sold 4.535 million shares of Class A stock<\/a> between Dec. 15 and Dec. 21, raising $747.8 million to its cash reserves as it navigates the crypto downturn.<\/p>\n

Magazine: <\/strong><\/em>Big questions: Would Bitcoin survive a 10-year power outage?<\/strong><\/em><\/a><\/p>\n