ETHZilla has ramped up its Ethereum holdings to more than 102,000 ETH and appointed a new CEO as part of its strategic transformation.
Key Takeaways
- ETHZilla now holds 102,246 ETH valued at approximately $443 million, acquired at an average price of $3,948.72.
- The company has secured an $80 million financing deal with Cumberland, collateralized by part of its ETH holdings.
- ETHZilla repurchased 2.2 million shares at $2.50 average, reducing total shares outstanding by 1.3%.
- McAndrew Rudisill replaces Blair Jordan as CEO, effective September 4, 2025, and will continue as Chairman.
What Happened?
ETHZilla Corporation, a Nasdaq-listed Ethereum treasury company trading under the ticker ETHZ, has announced major updates to its ETH holdings, financing strategy, and leadership structure. The company now holds over 102,000 ETH alongside more than $200 million in cash equivalents, positioning itself as a leading corporate holder of Ethereum.
🚨 Breaking ETHZilla news 🚨
— ETHZilla (@ETHZilla_ETHZ) September 8, 2025
ETHZilla has entered into an OTC transaction with Cumberland DRW to obtain up to $80 million. The net proceeds will be used to fund repurchases of $ETHZ.
ETHZilla has already repurchased 2.2 million $ETHZ shares at an average price of $2.50. pic.twitter.com/Oadh0PzBti
ETH Holdings Surge Past $443 Million
ETHZilla disclosed that it currently holds 102,246 ETH, with the position valued at approximately $443 million based on current prices. The ETH was acquired at an average purchase price of $3,948.72. Additionally, the company maintains $213 million in cash equivalents, bringing the total liquidity close to $656 million.
- The company’s ETH balance remained unchanged between August 31 and September 5, 2025, after acquiring 7.6K ETH earlier in August.
- ETHZilla indicated that some of the ETH was still in the process of being acquired via agreements already in place.
$80 Million OTC Deal with Cumberland
In a strategic financing move, ETHZilla entered into an over-the-counter (OTC) transaction with Cumberland DRW for up to $80 million, collateralized by a portion of its ETH holdings.
The company expects to use the net proceeds to support its $250 million stock repurchase program, which is already underway. The company reported:
- Repurchase of 2.2 million shares at an average price of $2.50 per share
- Shares outstanding reduced by 1.3% to a total of 164,426,122 shares
Leadership Transition: Rudisill Takes the Helm
In a leadership change, McAndrew Rudisill was appointed Chief Executive Officer, succeeding Blair Jordan, who stepped down on September 4, 2025. Rudisill will retain his role as Chairman, ensuring continuity in ETHZilla’s executive strategy.
Rudisill expressed appreciation for Jordan’s contributions, stating he was “excited to lead ETHZilla into its next stage of growth.”
Ongoing Capital Activity and Strategy
ETHZilla has actively used at-the-market (ATM) share issuances to raise capital:
- Raised $20.9 million for the week ending August 24
- Raised $7.3 million the following week
- No issuance was recorded for the week ending September 5
The company plans to continue updating shareholders via press releases and regulatory filings on its ETH acquisition strategy, treasury developments, and on-chain yield generation initiatives.
CoinLaw’s Takeaway
Honestly, I think ETHZilla is making bold, strategic moves at just the right time. Holding over $443 million in Ethereum is a serious commitment that signals strong confidence in ETH’s long-term value. What really caught my eye is how they’re using this position as leverage for a stock buyback. In my experience watching treasury trends in crypto, this kind of dual-track strategy. Crypto accumulation plus shareholder returns is rare and refreshing. It’s also great to see a leadership transition handled smoothly, especially with Rudisill already steering the ship. I’ll be watching this one closely.
