14.08.2025 07:18

180 Life Sciences Corp., a biotechnology company, experienced a dramatic stock surge of up to 270% following its announcement of a strategic shift towards digital assets and a subsequent name change to ETHZilla Corporation. This impressive rally continued into pre-market trading on August 13th, resulting in a stock price increase exceeding 300% compared to its value before the news broke.

The company's remarkable rise was fueled by the revelation of a significant Ether purchase. Specifically, ETHZilla acquired 82,186 Ether for approximately US$312.9 million at an average price of US$3,806.71, boosting its total cryptocurrency holdings to roughly US$349 million. Adding to this substantial digital asset portfolio, the company also holds US$238 million in cash reserves. This aggressive cryptocurrency investment strategy, according to management, aims to accumulate at least US$500 million worth of Ether.

Funding for this ambitious plan comes from a combination of sources. These include a recently completed US$156 million private placement and a US$425 million financing round secured earlier this year. Notably, billionaire Peter Thiel's recent regulatory filing revealed a 7.5% stake in the newly rebranded company, further underscoring investor confidence in this bold strategy.

This corporate foray into the cryptocurrency market comes at a time of record-high Ether prices, nearing US$4,700, and significant inflows into Ether-focused exchange-traded funds. Analysts attribute this upward trend to a combination of factors, including increasing institutional demand and robust stable-coin activity on the Ethereum network. Some analysts even predict Ether could reach US$7,500 before the year's end. This information is compiled from internet sources and was originally reported on DeepNewz, a news aggregation platform powered by AI.