Ether Treasury Company Ethzilla is looking to raise another $ 350 million through newly replaced bonds, with funds marked for more ether purchases and produce yield through ecosystem investments.
Chairman and CEO of Ethzilla McAndrew Rudisill Says on Monday that the company’s approach is to deploy ether (Eth) to “cash-flowing assets” on the Ethereum network by Layer-2 protocols and tokenizing real-world assets.
“We believe that our business model is highly measured, with significantly fixed operating leverage and repeating positive cash flow.”
A growing number of digital companies possessing simply moving with crypto and seeking to produce produce by actively participating in the ecosystem, which Crypto executives told cointelegraph in Augustcan help to spark a Defi Summer 2.0.
Ethzilla already earns tokens
The Ether Treasury Company gained 1.5 million in unnamed tokensAccording to the company’s financial disclosed by participating in the ecosystem.
“Ethzilla continues to actively deploy capital throughout the Ethereum ecosystem, strategically supports a diverse range of protocols that drive change, long-term network growth, and yield diversity,” the company said.
It also earned $ 156.5 million by convertible bonds, which, combined with a fresh $ 350 million, left the company with more than $ 506 million in its war chest.
If it uses the full increase for more ether purchases, Ethzilla can stack another 120,000 tokens and add to their 102,000 stash, which costs more than $ 428 million.
Ethzilla, the eighth largest Treasury company
Former Life Sciences Corp, a company listed in NASDAQ listed in Biotechnology, IT Rebranded as Ethzilla Corporation in July to pivot too much with the investment of ether.
Ethzilla is the eighth largest Ether Treasury company outside 69 listed, combined, hold 5.25 million tokens, which cost more than $ 22 billion and represents 4.25% of the shifting -shifted supply.
Tom Lee’s immersion technologies Top the pack By its 2.4 million ether, while Sharpink Gaming was second with 838,000 tokens.
Stock price makes little gains since the crypto shift
Established in 2016 as a clinical stage of the biotechnology firm, life sciences have been public in 2020, but since then Initial offer to the publicThe stock has fallen over 99% in the last five years.
Related: Solana Treasury breed is eating as companies hunt rewards
The sharp decline is linked to the lack of income, mounted of losses and repeated seams of the shareholder to raise the capital.
Its stock has since registered a 31% gain for the year, with the best performing month coming in August when it rockets at $ 10.70.
In the final trading session, Ethzilla’s stock dropped 5% in a regular session but increased 2% after time to trade to $ 2.45.
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