Ethereum Treasury Company ETHZilla Spends $12.2 Million to Purchase Two Jet Engines

Odaily News ETHZilla disclosed in an SEC filing that the company, through its newly established subsidiary ETHZilla Aerospace LLC, purchased two CFM56-7B24 aircraft engines for $12.2 million. The engines are currently leased to a major airline. ETHZilla had previously sold at least $114.5 million worth of ETH over the past few months. In October and December of last year, the company sold $40 million and $74.5 million worth of ETH, respectively, for stock buybacks and debt redemption. ETHZilla stated that it will pivot to the asset tokenization sector, planning to collaborate with regulated broker-dealers to bring cash-flow-generating assets such as auto loans and home loans on-chain, with the first batch of tokenized assets expected to launch in the first quarter of this year.