Ethereum treasury firm ETHZilla (Nasdaq: ETHZ) has initiated a stock repurchase program of up to $250 million, as the company navigates volatile stock market trends and seeks to maximize shareholder value. The move comes amidst a recent dip in ETHZilla’s stock price, which plummeted over 53% in the past week following a surge driven by venture capitalist Peter Thiel’s investment. Following the initial volatility caused by Thiel’s disclosure, ETHZilla filed with the SEC to offer convertible shares, potentially increasing its total outstanding shares from 164.4 million to over 239.2 million. Despite the recent market fluctuations, ETHZilla remains dedicated to its Ethereum strategy. The company has increased its holdings of Ethereum to $489 million, currently holding a stash of 102,237 ETH at an average acquisition price of $3,948.72. Alongside these crypto holdings, the firm maintains about $215 million in USD cash equivalents. The company’s stock repurchase program is scheduled to expire on June 30, 2026, or earlier if it completes the $250 million goal. ETHZilla plans to fund the program using its working capital and future financings, with the flexibility to execute the repurchase through open-market transactions, negotiated deals, or a Rule 10b5-1 plan. Ethereum itself has also experienced significant gains, reaching an all-time high of $4,946 last Friday before retracing slightly to $4,604 on Sunday night.