Ethzilla actions (Ethz)Previously known as the 180 Life Science biotechnological firm, almost 30% fell on Friday after the company revealed that the shareholders presented that it offered up to 74.8 million convertible shares.
The offer caused concerns about dilution, a process in which the bets of existing shareholders lose value as more actions enter the market. For investors, it means that its property portion is reduced, even if the general value of the company does not change.
After the issuance of new shares, the company’s in circulation shares will increase by approximately 46% to 239.3 million of 164.4 million, according to the presentation. The company will not receive any income from the shareholders who sell their converted shares.
Ethzilla was renamed earlier this month in a cryptographic treasury company and revealed that he owns 82,186 Ether, for a value of approximately $ 349 million at current prices, along with $ 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 holdings sent shares on August 11, raising the action of 80% in the year in which it will be held before Friday’s acute reversal.
Strategic change has also attracted heavyweight sponsors.
Peter Thiel, who has publicly supported Ethereum, has a 7.5% participation in ETHZ through its founder Funders. The fund also has 9.1% of Bitmine’s immersion technologies, which recently raised $ 250 million to build their own ether reserves. Thiel’s participation highlights a broader commitment to influential investors that Ethereum could anchor the next generation of financial infrastructure.
Ether himself has recovered the impulse in 2025 after delaying behind other Altcoins last year. The Token has risen 38% in the year in which it will exceed the 24% increase in Bitcoin and the 17% gain of the Coindesk 20 index. For the context, Bitcoin rose 121% in 2024, while Ether added only 31%. The change coincides with the regulatory clarity in the United States that has led Wall Street institutions to adopt Ethereum as a base layer to launch new financial products and services.
Despite the increase in the price and interests of investors, Ethz’s shares moved against the broader tendency on Friday. The Nasdaq, S&P 500 and Dow were higher after the comments of the president of the Federal Reserve, Jerome Powell, while Ether won 9% in the last 24 hours.
The mass sale underlines the tension between Ethz’s promise as a great Ether treasure that quotes in the stock market and the restlessness on the short -term dilution. While the company’s balance places among the largest Éter holders of the corporate world, shareholders are weighing if that promise can exceed the risks of being cut into smaller pieces.
