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.