Derived from Coinotag, ETHZilla is raising $350 million in convertible bonds to purchase additional Ether and deploy it into yield-generating Layer-2 protocols and tokenized real-world assets. The firm currently holds 102,000 ETH and could add up to 120,000 ETH if the full raise is used. CEO McAndrew Rudisill stated the strategy focuses on cash-flowing assets to generate recurring income through ecosystem participation. ETHZilla, previously a biotech firm, rebranded in July to pivot toward Ethereum investment and has seen a 31% stock gain year-to-date.
ETHZilla to Raise $350M in Convertible Bonds to Expand Ether Holdings and Deploy into Yield Strategies
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