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Ethereum-focused 180 Life Sciences Corp., in the process of rebranding to ETHZilla, saw its stock price spike over 90% on Tuesday following news of a new major shareholder and updated treasury figures.
What’s the Scoop?
- New Stakeholder: SEC filings showed entities linked to Peter Thiel acquired a 7.5% stake in ETHZilla.
- Growing ETH Reserves: The firm disclosed holdings of 82,186 ETH, worth about $349 million at an average purchase price of $3,806, alongside $238 million in USD cash equivalents.
- Capital Raise: Earlier this month, ETHZilla closed a $425 million private placement with over 60 participants, including major crypto investment firms.
Bankless Take:
Peter Thiel has been scooping up ETH treasury companies like there is no tomorrow; he now owns major stakes in both ETHZilla and Tom Lee’s BitMine Immersion Technologies! The legendary tech investor has long maintained an active presence in the crypto industry through his venture firm, Founders Fund.
The World’s Largest ETH Holder - Tom Lee on Treasuries, 
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