ETHZilla (ETHZ) has authorized a $250 million stock repurchase program as the company doubles down on its ether-focused treasury strategy, the firm said in a press release Monday.
The Florida-based firm said its board approved the buyback effective immediately, with the program set to run until June 30, 2026, or until the full $250 million allocation is exhausted.
Alongside the move, The Nasdaq-listed company disclosed that it now holds 102,237 ETH, acquired at an average price of $3,948.72.
At current market valuations, the stash is worth approximately $489 million. The company also reported holding roughly $215 million in U.S. dollar cash equivalents.
“As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders,” said McAndrew Rudisill, executive chairman of ETHZilla, in the release.
ETHZilla also introduced its
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