Ethzilla actions (Ethz)Formerly known as Biotech Firm 180 Life Science, dropped almost 30% on Friday after the company revealed that shareholders have deposited up to 74.8 million convertible shares.
The offer has aroused concerns about dilution, a process where the participations of existing shareholders lose value because more actions between the market. For investors, this means that their narrowing tranche of property, even if the overall value of the company does not change.
After the issue of new shares, the company’s stocks will increase by around 46% to 239.3 million, against 164.4 million, according to the file. The Company will not receive any products from shareholders selling their converted actions.
Ethzilla renamed earlier this month in a cryptographic cash company and revealed that it has 82,186 ether, worth around $ 349 million at current prices, as well as $ 238 million in cash equivalents. The ether was acquired at an average price of $ 3,806.71 per token. The news of the pivot and the size of the assets passed the actions on August 11, raising the shares of 80% year on the date before the overthrow of Friday.
Strategic change has also attracted heavy donors.
Peter Thiel, who publicly supported Ethereum, holds a participation of 7.5% in Ethz through his founding fund. The fund also holds 9.1% of Bitmine immersion technologies, which recently collected $ 250 million to build its own ether reserves. Thiel’s involvement highlights a broader bet of influential investors that Ethereum could anchor the next generation of financial infrastructure.
Ether himself resumed the momentum in 2025 after taking the train behind other Altcoins last year. The token is up 38% the year at the start, exceeding the increase in 24% bitcoin and the 17% gain in the Coindesk 20 index. For the context, Bitcoin climbed 121% in 2024 while Ether only added 31%. Recovery coincides with regulatory clarity in the United States which prompted Wall Street institutions to adopt Ethereum as a base layer to launch new products and financial services.
Despite the sharp increase in price and interest in investors, Ethz’s shares moved against the broader trend on Friday. The NASDAQ, S&P 500 and DOW were all higher after the remarks of the president of the Federal Reserve Jerome Powell, while Ether himself won 9% in the past 24 hours.
The sale highlights the tension between the promise of Ethz as a great cash and a discomfort of listed investors on the stock market concerning the short -term dilution. Although the company’s assessment places it among the largest ether holders in the business world, shareholders weigh if this promise can prevail over the risks of being cut in smaller pieces.
