ETHZillas $74 Million Ethereum Sell-Off: Strategic Move Amid Crypto Market Turmoil ETHZilla продала Ethereum на $74 млн: стратегический шаг на фоне нестабильности крипторынка

Backed by Peter Thiel, the crypto asset holding company ETHZilla has executed the sale of 24,291 ETH valued at $74.5 million to settle its debt obligations.

The average selling price was $3,068 per coin. The funds raised will be used to repurchase issued convertible bonds.

Approximately 69,800 ETH worth $206 million remains on the company’s balance sheet.

ETHZilla first reported on the asset liquidation at the end of October, stating its intention to sell coins until the market capitalization to crypto reserves ratio, or mNAV, stabilizes.

Over the past day, shares of the Ethereum-focused accumulation entity have dropped by 8.7%. Since the start of the year, the stock price has plummeted by more than 65%.

Last week, the largest corporate holder of Ethereum, BitMine, purchased an additional 13,412 ETH for $40.61 million. The company’s total holdings of the second-ranked cryptocurrency have surpassed 4 million ETH, valued at $12 billion.

The average acquisition cost was $2,991 per coin.

“BitMine continues to steadily increase its Ethereum reserves; in the past week, the company added 98,852 ETH, pushing its total reserves beyond the critical mark of 4 million ETH. This is a monumental milestone reached in just five and a half months,” commented the firm’s chairman, Tom Lee.

Amid the rebound of the second-largest cryptocurrency to $3,000, BitMine’s reserves have once again become profitable. Following an October downturn, the company briefly faced a loss due to plans involving BlackRock.

In the past six months, the firm’s stock has surged by over 570%. BitMine stands out as one of the few DAT companies whose shares have benefited from the shift to a cryptocurrency accumulation strategy.

In a press release, the company emphasized its plans to monetize Ethereum reserves through staking beginning in 2026.

“We are actively advancing our solution — The Made in America Validator Network. This will be a flagship, highly secure infrastructure for staking, and we aim to launch it in the first quarter of 2026,” stated Lee.

Last week, Strategy Michael Saylor paused Bitcoin purchases. Instead, the company bolstered its cash reserve by $748 million, increasing it from $1.44 billion to $2.19 billion.

The firm established this fund in early December through MSTR stock sales. The structure is intended for stable and continuous dividend payments during declines in the leading cryptocurrency’s price.

Strategy remains the largest public holder of digital gold, managing 671,268 BTC worth $58.7 billion.

The previous week, the company acquired an additional 10,624 BTC for $962.7 million from December 8 to 12.

Analysts at TD Cowen believe that bolstering the cash reserve signals the company’s preparation for a “prolonged crypto winter,” as reported by The Block.

According to expert assessments, the current size of the fund is sufficient to cover interest and dividend payments for 32 months, ensuring Strategy’s durability even during a prolonged market downturn.

“This move reflects Strategy’s strong balance sheet and should dispel any concerns about its long-term viability. Strengthening liquidity amid uncertainty is a prudent strategy, and we believe all stakeholders in the company will ultimately benefit,” noted TD Cowen.

The research department reaffirmed a “Buy” recommendation on the company’s stock, projecting a target price of $500 over the next 12 months. With the current price around $165 (43% below the beginning of the year), this implies a growth potential of over 200%.

It is worth noting that analysts from CryptoQuant have warned of the onset of a «crypto winter,» predicting that Bitcoin’s bottom will form around $56,000.