ETHZilla buys jet engines as tokenisation strategy shifts

Ethereum treasury firm ETHZilla has acquired two commercial aircraft engines for $12.2 million through a newly formed subsidiary.

The purchase was disclosed in a regulatory filing released on Friday.

The engines are leased to a major airline, allowing ETHZilla to generate immediate yield.

The deal follows ETHZilla’s recent move away from a pure ether-holding strategy.

Chairman and chief executive McAndrew Rudisill said the company is refocusing on tokenising real-world assets.

“We aim to build an operating business to bring real-world assets on-chain through tokenisation,”

McAndrew Rudisill said.

Rudisill added that ETHZilla will initially prioritise aerospace assets such as engines and airframes.

The company said its leadership team has long-standing relationships in the aerospace sector.

ETHZilla’s shares have fallen about 95% from their August peak amid broader crypto market weakness.

Ether has also declined sharply, trading around 40% below its August high.

ETHZilla currently holds 69,802 ether worth nearly $200 million, according to market data.

At the time of reporting, Ethereum price was $2,863.19.