ETHZilla (ETHZ) has authorized a $250 million stock repurchase program as the company doubles down on its ether-focused treasury strategy, the firm said in a press release Monday.

The Florida-based firm said its board approved the buyback effective immediately, with the program set to run until June 30, 2026, or until the full $250 million allocation is exhausted.

Alongside the move, The Nasdaq-listed company disclosed that it now holds 102,237 ETH, acquired at an average price of $3,948.72.

At current market valuations, the stash is worth approximately $489 million. The company also reported holding roughly $215 million in U.S. dollar cash equivalents.

“As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders,” said McAndrew Rudisill, executive chairman of ETHZilla, in the release.

ETHZilla also introduced its proprietary Electric Asset Protocol, which it says will be used to generate higher yields on its crypto holdings.

As of August 24, 2025, the company reported 102,237 ETH valued at about $489 million, $215 million in cash equivalents, and 165,478,655 shares outstanding, as of August 22.

The buyback adds another layer to ETHZilla’s strategy of aggressively building ether reserves while leveraging new yield protocols to bolster returns.

ETHZilla shares tumbled nearly 30% on Friday after the company disclosed that shareholders filed to offer up to 74.8 million convertible shares. The stock was was trading 4.5% lower, around $3.15, at publication time.

Read more: ETHZilla Shares Plunge Almost 30% as Dilution Fears Overshadow $349M Ether Treasury