Peter Thiel Double Downs on Ethereum, Acquires 7.5% Stake in ETHZilla

BlockBeats News, August 12, Billionaire Peter Thiel once again laid out his position in Ethereum. According to the latest SEC filing, Peter Thiel and his investment team acquired a 7.5% stake in the Ethereum treasury reserve company ETHZilla (formerly 180 Life Sciences Corp.).

180 Life Sciences (stock code: ATNF) saw its stock price rise over 11% at Monday's close, with a surge of about 57% in after-hours trading. The company announced its Ethereum treasury plan at the end of July. This Monday, the biotech company stated that it had sold $156 million of 2028 senior secured convertible notes to an institutional investor and had previously completed a $425 million private placement. The raised funds will be mainly used to purchase Ethereum, income-generating assets, and the company's online gaming (iGaming) business, while monetizing its existing biotech intellectual property.

BlockBeats previously reported that on July 16, in an SEC filing submitted later on Tuesday, Peter Thiel's Founders Fund Growth II Management disclosed that as of July 8, it held a 9.1% stake in BitMine Immersion Technologies.