ETHZilla plans to redeem $516 million of its 2028 convertible bonds ahead of schedule to optimize its capital structure.

Odaily Planet Daily reports that ETHZilla announced plans to redeem $516 million in convertible bonds maturing in 2028 by December 30th at 117% of face value, plus accrued interest. The company will use restricted cash held as collateral to support the redemption and has signed relevant agreements with bondholders.

ETHZilla stated that this move aims to simplify its capital structure and enhance financial flexibility, aligning with its recent business advancements in on-chain asset tokenization, including previously disclosed deployments and investments related to Karus and Zippy. (prnewswire)