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Crypto treasury firm ETHZilla has liquidated a significant portion of its Ether holdings to reduce outstanding debt obligations.
The company disclosed in a regulatory filing that it sold 24,291 Ether for total proceeds of $74.5 million.
The Ether was sold at an average price of $3,068.69 per token, according to the filing.
Following the transaction, ETHZilla retained approximately 69,800 ETH on its balance sheet.
The company said it intends to use all or most of the proceeds to redeem senior secured convertible notes.
The sale comes amid continued volatility across digital asset markets and pressure on crypto treasury strategies.
ETHZilla rebranded from 180 Life Sciences Corp in July after pivoting away from biotechnology.
Prior to the shift, the former biotech firm’s shares had fallen more than 99.9% since its 2020 listing.
ETHZilla has since repositioned itself as an Ether-focused investment and treasury management company.
In December, the firm announced minority stakes in AI automotive finance startup Karus and housing lender Zippy.
Despite these moves, ETHZilla shares closed down 8.7% on Monday and remain sharply lower year to date.
The Ether sale reflects a broader trend of digital asset treasuries prioritising balance sheet strength.
Public companies have increased exposure to Bitcoin and Ether during recent market cycles.
Data shows more than 190 listed firms now hold Bitcoin, representing over 5% of circulating supply.
Similar figures indicate 27 public companies collectively hold around 6 million Ether.
As token prices retreat from recent highs, some firms have begun selling assets to manage leverage.
Analysts say debt reduction has become a key focus as crypto market conditions remain uncertain.
ETHZilla’s transaction underscores the growing financial discipline among publicly traded crypto holders.
At the time of reporting, Ethereum price was $3,020.14.