Catenaa, Friday, August 15, 2025-ETHZilla, formerly known as 180 Life Sciences, saw its stock price more than triple Tuesday after billionaire investor Peter Thiel purchased a 7.5% stake in the company.
The firm recently shifted its focus from biotech research to accumulating Ethereum, reflecting a growing trend of firms building cryptocurrency treasuries.
ETHZilla’s shares surged 207%, closing at $10.24, up from $3.34 the day before. The investment news followed a broader rally in Ethereum’s price, which hit $4,500 for the first time since 2021, driven by increased demand.
Thiel’s venture capital firm, Founders Fund, also holds a 9.1% stake in BitMine, another public company heavily invested in Ethereum.
BitMine has amassed over $5 billion worth of ETH and plans to raise more than $20 billion to expand its holdings. Thiel has been an active backer of blockchain projects, including exchanges and layer-2 networks, for years.
Thiel’s interest in Ethereum dates back to 2014, when Founders Fund awarded Vitalik Buterin a $100,000 grant that helped develop the protocol. His political connections include influential roles within the Trump administration, which has implemented crypto-friendly policies, such as allowing 401(k) plans to invest in digital assets.
ETHZilla’s pivot to crypto treasury management highlights growing institutional appetite for Ethereum as companies diversify beyond traditional assets.
