ETHZilla is raising $350 million in new convertible bonds to buy more Ether and deploy ETH into yield-generating Layer‑2 protocols and tokenized real‑world assets, aiming to expand its Ether treasury and produce recurring cash flow through active ecosystem participation.
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Fundraise: $350M convertible bonds targeted for additional Ether purchases
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Deployment: capital to be placed in Layer‑2 protocols and tokenized real‑world assets to generate yield
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Scale: ETHZilla holds 102,000 ETH today and could add up to ~120,000 ETH if full raise is used for purchases
ETHZilla Ether treasury raises $350M via convertible bonds to buy more ETH and deploy into Layer‑2 yield strategies — learn how this boosts treasury growth.
What is ETHZilla’s new fundraising plan?
ETHZilla plans to raise $350 million through new convertible bonds, directing proceeds to purchase additional Ether (ETH) and to deploy that ETH into cash‑flowing opportunities on the Ethereum network. The company aims to grow its treasury and produce recurring positive cash flow through Layer‑2 protocols and tokenized real‑world asset strategies.
How will ETHZilla deploy the newly raised Ether?
ETHZilla’s CEO, McAndrew Rudisill, says the strategy is to place ETH into yield-generating, “cash‑flowing assets” across Ethereum, including Layer‑2 rollups and tokenized real‑world assets. The firm already participates in protocol incentive programs and has recorded earned tokens from ecosystem engagement.
Frequently Asked Questions
How much convertible debt has ETHZilla issued previously?
ETHZilla previously raised $156.5 million via convertible bonds. Combined with the new $350 million target, the company would have raised over $506 million to support Ether accumulation and ecosystem investments.
Who leads ETHZilla and what did they say about strategy?
CEO McAndrew Rudisill leads ETHZilla and states the company will deploy ETH into cash‑flowing Layer‑2 protocols and tokenized real‑world assets to achieve scalable, recurring cash flow.
Is ETHZilla a large Ether treasury holder?
Yes. ETHZilla ranks eighth out of 69 listed Ether treasury companies with roughly 102,000 ETH, while the combined group holds about 5.25 million ETH (≈4.25% of circulating supply).
Why is ETHZilla shifting from biotech to Ether investment?
Formerly Life Sciences Corp., a Nasdaq-listed biotech, the company rebranded to ETHZilla in July to pivot capital allocation toward Ether investment. The rebrand reflects a strategic move to monetize network participation and capture protocol-level yields instead of relying on biotech revenue streams.
What results has the stock shown since the pivot?
After years of decline from its IPO, the stock has gained roughly 31% year‑to‑date, with a notable month in August. Recent sessions show volatility: a 5% drop in regular trading followed by a 2% after‑hours rise to $2.45.
How is ETHZilla already earning tokens?
ETHZilla disclosed it has earned approximately 1.5 million in ecosystem tokens via participation in protocol programs and incentives. The company reports this as part of active capital deployment designed to support network growth and generate differentiated yield.
Key Takeaways
- Major raise: ETHZilla targets $350M in new convertible bonds to expand its Ether holdings.
- Active deployment: Strategy focuses on Layer‑2 protocols and tokenized real‑world assets to drive recurring cash flow.
- Treasury scale: With current 102,000 ETH, ETHZilla ranks eighth among listed Ether treasuries and could significantly increase holdings if the raise is fully deployed into ETH.
Conclusion
ETHZilla’s $350 million convertible bond plan aims to deepen its position as an Ether treasury company by combining asset accumulation with active yield strategies on Ethereum. The move underscores a broader industry trend of treasuries deploying capital to generate recurring cash flow rather than passively holding crypto. Watch for updates as the raise progresses and deployment plans crystallize.
Published: 2025-09-23 • Updated: 2025-09-23 • Author: COINOTAG
