ETHZilla announces $250 million stock repurchase program; shares up over 6%

* ETHZilla (NASDAQ:ETHZ [https://seekingalpha.com/symbol/ETHZ]) announced on Monday that its Board of Directors has authorized a stock repurchase program of up to $250 million of the company's outstanding shares of common stock, effective immediately.
* The company said the stock repurchase program is expected to be funded using its working capital and from funds raised in "at-the-market" offerings or other future financings.
* Additionally, the company announced it now has total holdings of 102,237 Ether (ETH) at an average acquisition price of $3,948.72, valued at approximately $489 million.
* In addition to the ETH, ETHZilla holds approximately $215 million in USD cash equivalents.
* ETHZ +6.06% premarket to $3.5.
* Source: Press Release [https://seekingalpha.com/pr/20210068-ethzilla-announces-authorization-of-250-million-stock-repurchase-program]

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