Peter Thiel-backed ETHZilla to acquire 15% stake in Satschel for $15M
ETHZilla leverages crypto investments and corporate restructuring to accelerate its shift toward an Ethereum-focused public treasury strategy.
Key Takeaways
- ETHZilla will acquire a 15% stake in Satschel for $15 million as part of its transition from biotech to a crypto treasury platform focused on Ethereum accumulation and staking.
- ETHZilla, now trading under the ticker ETHZ, has shifted its business model and recently rebranded to emphasize its new strategy.
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ETHZilla, a publicly traded company transitioning from biotech to Ethereum accumulation and staking strategies, will take a 15% stake in Satschel for $15 million.
The $15 million investment represents ETHZilla’s latest strategic move as it continues evolving into a public Ethereum treasury platform. The company trades under the ticker ETHZ following its rebrand and shift to a crypto treasury focus.
ETHZilla has recently raised funds through convertible debentures to support share repurchases and strategic initiatives. The company has engaged in OTC transactions with firms like Cumberland DRW to secure funding for repurchases.
The company is also executing a reverse stock split to enhance share price stability as part of its transformation into a crypto-focused entity.
