Important points
- ETHZilla will acquire a 15% stake in Satschel for $15 million as part of its transition from biotechnology to a crypto asset platform focused on Ethereum accumulation and staking.
- ETHZilla, currently trading under the ticker ETHZ, has transformed its business model and recently rebranded to highlight its new strategy.
ETHZilla, a publicly traded company transitioning from biotech to Ethereum accumulation and staking strategy, will acquire a 15% stake in Satschel for $15 million.
This $15 million investment represents ETHZilla’s latest strategic move as it continues to evolve into a public Ethereum financial platform. The company trades under the ticker ETHZ after a rebrand and shift in focus to crypto treasury.
ETHZilla recently raised capital through convertible debt to support share buybacks and strategic initiatives. The company has engaged in OTC transactions with companies such as Cumberland DRW to secure funds for stock buybacks.
The company is also conducting a reverse stock split to increase stock price stability as part of its transformation into a cryptocurrency-focused company.
