ETHZilla Buys Back Shares, Boosting Stock Price After $40M Ethereum Sale

ETHZilla Corporation has sold $40 million worth of its Ethereum treasury to fund share repurchases under a $250 million buyback program aimed at narrowing the gap between the company’s stock price and its net asset value (NAV). The move follows increasing pressure on digital asset treasuries to align their stock prices with underlying crypto asset values. 600,000 shares have already been repurchased using the proceeds, representing about $12 million of the total amount sold. The company aims to continue selling ETH to fund further buybacks until the NAV gap is reduced.