ETHZilla Revamps Strategy with $238 Million Ethereum Reserve

The company, formerly 180 Life Sciences Corp., is shifting its focus from pharmaceuticals to an Ethereum-centric strategy. This includes a substantial allocation of $238 million in cash and equivalents dedicated to Ethereum treasury management. The move is driven by the belief that on-chain yield generation will benefit shareholders, according to CEO McAndrew Rudisill. The change comes as several public companies are incorporating cryptocurrency strategies into their business models, impacting both tech and finance sectors.