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PALM BEACH, Fla. - ETHZilla Corporation (NASDAQ:ETHZ), a $390.83 million market cap company whose stock has surged 115.93% over the past six months according to InvestingPro, announced Thursday plans to deploy approximately $47 million worth of Ether (ETH), representing about 10,600 ETH, to Puffer, a liquid restaking protocol. The company expects this move to generate higher yields on its ETH treasury holdings.
ETHZilla selected Puffer for its ability to deliver high yield through restaking while maintaining security with a 2 ETH validator bond, which provides insurance against validator failures or malicious activity.
"This collaboration advances our strategy of generating meaningful cash flow from Ethereum," said McAndrew Rudisill, Chairman and CEO of ETHZilla, in the press release statement.
Puffer is developing vertical crypto infrastructure that includes its LRT for capital efficiency, Unifi-based rollup for composability, and Preconf AVS for high throughput and payroll settlement scalability.
Amir Forouzani, Founder and CEO of Puffer, stated that the collaboration demonstrates how security and yield can work together, establishing "a new standard for institutional participation in Ethereum restaking."
ETHZilla Corporation operates in the decentralized finance industry, connecting financial institutions and organizations by enabling blockchain transactions through Ethereum Network protocol implementations. The company generates recurring revenues through various DeFi protocols that enhance Ethereum network security.
The ETH valuation for this deployment was based on the market price as of September 24, 2025, according to the company’s announcement. Trading at $2.44, ETHZilla’s stock currently appears overvalued based on InvestingPro’s Fair Value analysis, with 12 additional key insights available to subscribers.
In other recent news, ETHZilla Corporation announced it has raised $350 million through new convertible debentures, which carry a 2% annual interest rate and a conversion price of $3.05 per share. The agreement also amends terms of previously issued $156.5 million convertible debentures by reducing their interest rate to 0% until February 2026. Additionally, ETHZilla has repurchased approximately 6 million shares at an average price of $2.50 per share. The company holds 102,255 Ether (ETH) and ETH equivalents valued at approximately $460 million, along with $228 million in USD cash equivalents. In leadership changes, McAndrew Rudisill has been appointed as the new Chief Executive Officer, succeeding Blair Jordan. The board has also authorized a stock repurchase program of up to $250 million. ETHZilla’s board reported holding 102,237 Ethereum tokens, currently valued at approximately $489 million, with an average acquisition price of $3,948.72.
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