press release<\/a> released on August 12 detailed that the company holds 82,186 Ether (ETH), acquired at an average price of $3,806.71, amounting to an estimated $349 million as of August 11. Furthermore, ETHZilla has reported $238 million in cash equivalents on its balance sheet.<\/p>\nExecutive chairman McAndrew Rudisill emphasized this as a calculated move to establish an institutional reserve of ETH designed for staking and generating yield through external management. \u201cAt ETHZilla we have strategically invested over $350 million in capital since our recent PIPE transaction\u2026aiming to enhance our yield generation efforts with the help of our asset management partner, Electric Capital,\u201d stated Rudisill.<\/p>\n
This acquisition strategy is accelerating, as evidenced by the rapid succession of financing rounds. On August 4, ETHZilla finalized a $425 million private placement, followed by an additional $156 million in senior secured convertible notes due in 2028, aiming for quick expansion of their ETH holdings.<\/p>\n
Thiel’s interest in ETHZilla comes shortly after revealing a 9.1% stake in BitMine Immersion Technologies (NYSE American: BMNR), recognized for being an aggressive player in the \u201cETH treasury\u201d landscape. That previous filing also signaled Thiel’s ongoing commitment to Ethereum investments, correlating with a significant stock price boost for BMNR.<\/p>\n
In a notable turn of events, BitMine announced plans this week to expand its at-the-market equity program by an additional $20 billion, bringing its total to $24.5 billion to support further ETH accumulation. This was confirmed through a Form 8-K and prospectus released on the same day.<\/p>\n
Tom Lee, co-founder of Fundstrat and chairman at BitMine, is orchestrating one of the largest Ethereum accumulation initiatives on record. BitMine has already collected around 1.2 million ETH, valued near $5 billion, with ambitions to capture 5% of Ethereum\u2019s overall supply.<\/p>\n
Together, these moves signal Thiel\u2019s strong conviction in Ethereum. His recent investments, the 9.1% stake in BitMine followed by the 7.5% in ETHZilla, showcase a robust confidence that Ethereum’s growth will surpass potential dilution and volatility, allowing for a lucrative accumulation strategy moving forward.<\/p>\n
At the time of reporting, Ethereum was trading at $4,655.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
In recent developments, tech investor Peter Thiel is significantly increasing his involvement in Ethereum-related investments. An updated Schedule 13G with the US Securities and Exchange Commission indicates that Thiel’s Founders Fund has acquired a 7.5% passive stake in 180 Life Sciences Corp. (Nasdaq: ATNF), which is rebranding to ETHZilla and focusing on the acquisition of […]<\/p>\n","protected":false},"author":14,"featured_media":42831,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Billionaire Thiel Secures 7.5% Stake in ETHZilla Now - Bitrabo","description":"In recent developments, tech investor Peter Thiel is significantly increasing his involvement in Ethereum-related investments. An updated Schedule 13G with the"},"footnotes":""},"categories":[316],"tags":[2165,958,3338,768,15616,906,1256,14152],"class_list":["post-42830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bet","tag-billionaire","tag-deepens","tag-ethereum","tag-ethzilla","tag-peter","tag-takes","tag-thiel"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/42830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=42830"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/42830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/42831"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=42830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=42830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=42830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}